By Chalida Ekvitthayavechnukul
GIZTIX marks Addventures’ first direct investment into a startup since it launched the fund this year.
Steady economic growth and a surging stock market are among the factors behind the rapidly swelling ranks of affluent Thais.
Its IPO will push the value of Thai IPOs this year to $1.72b, up from $1.61b in 2016.
Sarath Ratanavadi is poised to become the newest billionaire in Southeast Asia’s second-largest economy.
To date, it has secured $24.2 million from several investors including Baidu and Mobility Ventures.
Existing investors Blue Sky, MDI Ventures and DKSH also joined the round.
It still owns significant stakes in Thai Oil, PTT Global Chemical and IRPC.
Sansiri and U City plan to develop a premium condominium project on a plot of land in Bangkok.
Taokaenoi plans to increase the registered capital of GFI after the transaction is completed.
Hua Hin on Thailand’s west coast has seen a surge in investments by realty companies.