SPV77 ready to raise B2.4bn in ICO
Tokens to cost 10 baht each and will be sub-divided into two tranches
SPV77 Co Ltd plans to raise 2.4 billion baht through the launch of 240 million real estate-backed digital tokens, priced 10 baht each, in Thailand’s first initial coin offering (ICO) filed for approval with the Securities and Exchange Commission (SEC).
SPV77, a special purpose entity set up to issue and offer Siri Hub Investment Digital Tokens (SIRIHUB) with a four-year maturity to investors, serves as the token issuer, while SE Digital Co serves as the main ICO portal.
SPV77 is planning to channel 1.568 billion baht raised through the offering to invest in revenue sales and transfer agreements (RSTA) owned by Siripat Four Co, while 832 million is allocated to buy a 100% stake…
