By Chalida Ekvitthayavechnukul
This move is part of a planned restructuring of its rigid plastic packaging business.
Global asset manager BlackRock Inc has appointed veteran finance executive Tony Tang to head its China operations.
The company had earlier indicated that it would allocate a budget of over 300 million baht ($9.5 million) to invest in startups globally.
STEC also approved the development of a $245-million office project on Mo Chit Land plots in Bangkok.
The IPO proceeds will be used to develop new real estate projects, pay down debt and meet working capital requirements.
Thailand Digest: Mos Food Thailand sells 74.3% stake; MINT expands The Coffee Club in Vietnam via JV
Mos Food had terminated its initial local partnership in 2016 after seeing only six outlets survive since launching in Thailand in 2007.
Following the deal, both players will enjoy over 70 per cent market share of the country’s OOH advertising industry pegged at $377.76 million.
This is the first Series C investment by the venture capital arm of Thailand’s Siam Commercial Bank.
As part of this development, Dusit Thani has ended its 49-year-old Dusit Thani Bangkok on Silom road in January this year.
Prinx Chengshan is the latest foreign investor in Thailand’s Eastern Economic Corridor, part of a government policy to attract foreign investment.