By Chalida Ekvitthayavechnukul
The second half of 2017 saw Thai startups bagging plush investments, including aCommerce, which raised $65 million in a Series B round in November, Zilingo ($17 million) and Pomelo ($19 million), thereby pushing the total deal value over $100 million.
The company is targeting a larger international presence and a bigger lifestyle play to fulfil its ambitions of becoming a global brand.
After selling the trust units, the Bhiraj Office REIT will invest in assets with a value of not more than 6.6 billion baht ($203 million).
In September 2017, mu Space became Blue Origin’s first Asian customer by signing a partnership agreement to launch its first geostationary satellite aboard the latter’s New Glenn orbital rocket.
The company said the asset sale is part of its business restructuring plan.
The new company, called PT Surya Internusa Timur (SIT), has an initial registered capital of $15 million.
It would use the IPO proceeds to expand production capacity and distribution channels. It will sell a maximum of 76 million shares at 53 baht apiece, which is the highest public offering price this year. It has scheduled the first trading on December 26 under ticker symbol DDD.
Thailand’s five biggest lenders are Bangkok Bank, Krung Thai Bank, Siam Commercial Bank, Kasikornbank and Bank of Ayudhya.
The projects aims to serve demand for quality accommodation from Japanese in Bangkok
Prior to this round, it secured $2.1 million in seed funding from Convergence Ventures and Wavemaker in November 2016