By Chalida Ekvitthayavechnukul
With the latest funding, it plans to increase its market share in Thailand and stage a roadshow in ASEAN capitals in the second quarter of 2018. This is the second fundraising by WorkVenture after it secured 15 million baht ($420,000) in a round led by TCC Land Asset World’s chief executive Sommaphat Traisorat and PACE Development executive director Songphon Chaovanayothin.
The trust will be listed on the Stock Exchange of Thailand as a secondary market this year.
It has set aside the budget of over 1 billion baht ($30.7 million) to fund the acquisition.
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.