By Anuchit Nguyen
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.
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.