Luxury Thailand property developer Pace Development Corporation is pressing ahead with its plans for an Initial Public Offering (IPO) next month despite short-term market volatility on Southeast Asian stock markets including on the Stock Exchange of Thailand.
Pace will launch 600 million shares as part of the IPO, which equates to 29.2 percent of its paid-up capital.
Sorapoj Techakraisri, Chief Executive Officer of the developer, told reporters that he is confident that the IPO and listing were strong steps forward, reinforcing continuous and sustainable growth with growing trust and recognition among investors.
Pace expects to confirm exact details of the IPO offering next month.
The company is responsible for a number of high profile luxury property developments in Thailand, including the recently released MahaSamutr resort development (pictured) in Hua Hin
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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