By Chalida Ekvitthayavechnukul
Thailand’s software developer for hotels Comanche International will spend most of IPO proceeds on acquisition, while STP&I acquires the majority stakes in waste power plant for $24 million.
The Thai cash and carry operator said in a regulatory filing that it will be buying 80 per cent each in these targeted companies, which are Indoguna (Singapore) Pte Ltd, Indoguna Dubai LLC and two Hong Kong-based firms Lordly Company Limited and Just Meat Company Limited.
Bangkok-based angel investor lobby Bangkok Venture Club has announced a $20 million fund to invest in startups across Southeast Asia, the money to be raised from the club’s investors and a large global investor network within the next 60 days.
Narumol Noi-am, chief financial officer of Bangkok Dusit Medical Services, said that this acquisition would enable the company to promptly expand its customer base in the middle-income segment in Bangkok and vicinity areas.
Thailand’s fashion e-retailer Pomelo closes follow-on round led by Jungle Ventures, takes Series A funding to $11m
New investors were also brought in, and they include Andre Hoffmann, 500 Tuk Tuks – a fund of VC major 500 Startups – and Jonathan Price. Pomelo said it will use the funds to continue to their expansion in Southeast Asia.
“We are a manufacturer of electronic parts and this acquisition is in line with our strategy to expand into digital billboard business and create additional revenue to our shareholders,” said chief executive Kusol Sangkananta.
Following the transaction, Apichai Taechaubol will hold 7.98 per cent stake in Hot Pot and TFD will own the remaining 2.24 per cent. They will become the third largest shareholder in Hot Pot, following chief executive Sompon Roekwibunsi and Thaveechat Jurangkool.
Foodfellas has extensive experience management team in food service industry, which will allow CPF Group to promptly enter into food service market in the UK and expand its businesses to other European countries.
Public drinking will be frowned on during the 12-month period of mourning and ThaiBev’s own website was switched into somber black and white to mark the event.
Online printing marketing and technology firm Gogoprint has expanded its footprint in Malaysia and Singapore, while ServisHero and Grab join forces to provide a new service.