The proceeds from the IPO will be used to invest in the Amata Long Thanh industrial park project.
Amata VN Plc, a subsidiary of Amata Joint Stock Company - Thailand's largest industrial park real estate developer, announced the upcoming public offering of shares on the Stock Exchange of Thailand (SET ).
Specifically, Amata VN will IPO 166.37 million shares with par value of 50 satang / unit (equivalent to 0.5 baht).
The company is expected to start the stock offering in mid-December after receiving approval from the Securities and Exchange Commission of Thailand.
Ms. Somhatai Panichewa, Managing Director of Amata VN, said that the proceeds will be used to invest in Amata Long Thanh Industrial Park (Dong Nai) and supplement working capital for the Company.
"After the successful IPO, Amata will no longer have any direct investments in Vietnam, but these projects will be managed by Amata VN", Ms. Somhatai said.
It is known that the investor of Amata Long Thanh Industrial Park will develop a high-tech industrial park with an area of 410ha and two service urban areas of 753ha and 122ha. The project was granted investment certificate by Dong Nai Industrial Zones Authority at the end of June 2015. It is expected that by 2017, the project may start to attract investors.
Amata VN is a joint stock company operating in industrial zone real estate business in Vietnam.
According to Bangkok Post, this is the first foreign-based company to invest in real estate in industrial zones in Vietnam and has been operating there for nearly 20 years.
The first project is Amata Bien Hoa industrial park in Dong Nai province with an area of 700ha. Currently, 80% of the industrial park area has been leased, of which the majority are Japanese enterprises (accounting for 48%) and other enterprises from Taiwan, Korea, America and Europe. The company expects to soon fill the leased area within 4 years.
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