By Chalida Ekvitthayavechnukul
Singha Estate and Hong Kong Land had earlier tied up for Esse Sukhumvit 36, which was launched last month.
The hotel transaction volume in Thailand has hit the highest record since 2014.
The company will use most of the IPO proceeds to acquire more lands for new developments.
After the transaction is completed, Consistent Record will hold 20.31 per cent of NDR’s paid-up capital.
Earlier this month, it announced JD.com and Provident Capital Partners had led a $19-million series B round.
The acquisition will emphasize AkzoNonel’s position as one of the largest powder coating players in Southeast Asia.
It would use the proceeds to invest in other mixed-use projects including Summer Lassale.
Gulf Energy will have stronger financial leverage for more expansion following the IPO, its founder said.
The project will also include a co-working space of 30,000 sq m, claimed to be the world’s largest such facility.
It expects the corridor would attract the private investment of at least $3 billion per year.