By Andrew Batt:
High-end property developer Raimon Land has new majority shareholders.
In a statement to the Stock Exchange of Thailand published on Friday evening, the company said that its previous major shareholder, IFA Hotel & Resort 3 Ltd, sold 893 million shares to JS Oil Pte Limited at THB2.40 per share. This deal represents 24.98 percent of the Raimon Land’s total shares.
The statement added: “The company would like to clarify that the company has no plan to change the core business after the change of such major shareholders.”
DDproperty.com understands that JS Oil Pte Ltd is part of Ezra Holdings, a Singapore-based organisation listed on the Singapore Stock Exchange. The company is mostly involved in the offshore oil and gas industry. Ezra Holdings’ Managing Director Lee Chye Tek Lionel has joined the board of directors of Raimon Land.
Raimon Land’s projects in Bangkok include 185 Rajadamri and The River. In Pattaya the company is responsible developments including Northshore, Northpoint, Zire Womgamat and Unixx.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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