Asset World Corporation Public Company Limited has signed a contract to offer additional common shares to the public for the first time (IPO) valued at 48 billion baht, marking a significant milestone as the highest value common stock offering ever in Thailand. A total of 8 billion shares have been allocated to institutional investors both domestically and internationally, as well as to retail investors in Thailand, with the distribution between foreign and domestic investors estimated at 53% and 47%, respectively. Furthermore, this IPO offering by AWC is the largest IPO of a real estate company globally in the past five years. With this offering value, AWC has the opportunity to be included in the SET50 index under the Fasttrack criteria.

From September 25 to 27, 2019, when Asset World Corporation opened the subscription for common shares to retail investors in Thailand, it was observed that retail investors showed significant interest in purchasing AWC shares, despite a volatile stock market, reflecting confidence in the strong fundamentals and sustainable growth potential. Additionally, the results of the institutional investors' bookbuilding survey indicated considerable interest from leading institutional investors both in Thailand and abroad.

In this regard, the company has signed contracts appointing underwriters and guaranteeing the distribution and initial sale of shares abroad, with the underwriters including Kasikorn Securities Public Company Limited, SCB Securities Company Limited, Bualuang Securities Public Company Limited, and Phatra Securities Public Company Limited. Initial purchasers abroad include Merrill Lynch (Singapore) Pte. Ltd., Morgan Stanley & Co. International plc., and UBS AG, Singapore Branch. AWC is preparing to commence trading on the Stock Exchange of Thailand in early October 2019.

Nawallapa Traisorat, Chief Executive Officer and Managing Director of Asset World Corporation Public Company Limited, stated, "Asset World Corporation would like to thank all investors, both retail and institutional, both domestic and international, for their confidence in AWC's potential as a leading real estate development and management company under TCC Group, which focuses on providing comprehensive lifestyle solutions in Thailand with a diverse investment portfolio in prime locations. We are excited about the enthusiastic investment in AWC. Asset World Corporation is committed to building on business success with sustainable long-term value to achieve the company's goal of creating opportunities for investors to own a business that develops and manages high-potential real estate projects and to grow together sustainably."

Asset World Corporation will utilize the funds raised from this IPO to enhance both assets in the hospitality business and the retail and commercial real estate sector through acquisitions of properties under share purchase agreements in 2019, which will be new projects added to AWC's portfolio post-IPO. Additionally, the funds will be used to invest in the development and improvement of the company's assets and/or subsidiaries and/or properties acquired under the share purchase agreements in 2019 to create stable and sustainable growth for the company and returns for shareholders. Furthermore, part of the funds will be used to repay loans to reduce financial costs and for treasury management purposes.

Asset World Corporation has a policy to pay dividends to shareholders of no less than 40.0% of net profit from normal operations according to the consolidated financial statements of the company after corporate income tax and after deducting various reserves as required by law and as the company stipulates each year. The dividends paid will not exceed the retained earnings of the company. However, the board may determine the dividend payment and rate that differs from this stipulated rate, considering operational results, financial position, cash flow, working capital, investment and business expansion plans, market conditions, debt obligations, and other factors deemed appropriate by the board in the future, including necessity and other relevant factors.

For more information, visit www.assetworldcorp-th.com

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