Thailand’s Raimon Land to Raise US$99M Capital

Raimon Land Public Company Limited (RML), a premier real estate developer in Thailand, plans to increase its capital by 3,588 million baht (US$99 million) from 4,172 million baht (US$116 million) to a total of 7,760 million baht (US$216 million). This move is part of RML’s strategy to support sustainable growth, targeting continuous profit enhancement and a turnaround. The proposal will be presented for shareholder approval on March 22, 2024.

The capital increase proposal was approved in two of the company’s Board of Directors Meetings held on February 7 and 9, 2024. The capital hike will be divided into four portions of newly issued shares.

The first portion will be offered via private placement to two individuals: Kris Narongdej and Patee Sarasin, who will receive 1,622 million and 900 million shares, respectively. The second portion, comprising…