“Charoen”’s Hotel Operator Company “Asset World” Is (Almost) Ready to Enter the Market!

Asset World Corp Public Company Limited has submitted a filing to the Securities and Exchange Commission on June 11, 2019, for its 8 billion IPO’s shares. The offering includes 6.96 billion new shares, or a 22.5% stake, and a greenshoe of 1.04 billion shares, equivalent to a 5% stake, according to a filing with Thailand’s Securities & Exchange Commission.

The company appointed Phatra Securities, Kasikorn Securities and Bualuang Securities as its advisor.

Ms. Wallapa Traisorat, CEO of Asset World Corp. commented in a briefing in Bangkok that the total revenue of the company in 2018 was about THB 11 billion while the firm operates 10 hotels, has five under renovation, and plans to develop another 12 hotels. The company also owns major office buildings in the capital.

Asset World Corp. is a property business and is part of the TCC Group conglomerate founded by Thailand’s richest man Charoen Sirivadhanabhakdi.