One Origin Public Company Limited (ONEO), a leader in the real estate sector focusing on hotels and hospitality services, has submitted a filing to the Securities and Exchange Commission (SEC) in preparation for an IPO offering up to 702,800,000 shares. The company highlights its business model that generates consistent recurring income and diversifies across four main business segments: the hospitality sector, retail and office buildings, restaurants and beverages, and other related businesses, with a focus on sustainable growth.

Mr. Piti Jarukamjorn, CEO of One Origin Public Company Limited (ONEO), stated that ONEO is a leading developer and operator in the hospitality real estate sector in Thailand, generating consistent recurring income and serving as the flagship company within the Origin Property Public Company Limited (ORI) group, a comprehensive real estate developer. As of May 31, 2023, ONEO's business encompasses four main segments: 1) The hospitality sector, which includes hotels and serviced apartments, currently operating seven projects with a total of 1,579 rooms, and 12 projects under development with approximately 4,343 rooms; 2) The retail and office building sector, which includes one operational community mall with a net leasable area of 2,053 square meters and four projects under development with a total net leasable area of about 16,720 square meters, as well as two office buildings awaiting operation with a net leasable area of approximately 59,869 square meters; 3) The restaurant and beverage sector, with five operational outlets and four more awaiting launch; and 4) Other related businesses, including project management services across 12 companies and managing seven investment property programs, with six additional Hampton programs pending operation.

This diversification aims to enhance the quality of life for consumers comprehensively, allowing ONEO to generate income from its four main business segments and serve a diverse customer base in key tourist destinations in Thailand, such as Bangkok, Phuket, Krabi, Hua Hin, and areas near industrial estates in the Eastern Economic Corridor (EEC), which has a relatively high economic growth rate.

The CEO of One Origin Public Company Limited further stated that ONEO envisions becoming a leader in the real estate and hospitality development sector, committed to creativity and meeting all customer needs while generating sustainable returns for investors, alongside caring for employees, partners, and social responsibility.

Recently, ONEO appointed Siam Commercial Bank Public Company Limited (SCB) as its financial advisor and submitted a request for permission to issue and offer securities, along with a draft filing to the Securities and Exchange Commission (SEC) for an IPO of 702,800,000 shares at a par value of 0.50 baht per share, representing up to 26.0% of the total issued and paid-up shares of ONEO after this offering. This includes up to 675,668,000 shares offered to the public for the first time (IPO), up to 22,701,000 shares offered to directors, executives, and/or employees of ORI and its subsidiaries, and up to 4,431,000 shares offered to directors, executives, and/or employees of ONEO and its subsidiaries under the Employee Stock Option Program (ESOP) at the same price as the public offering. Additionally, ONEO has allocated up to 4,600,000 shares to accommodate the exercise of warrants for purchasing newly issued shares (ESOP Warrant) issued and offered to directors, executives, and/or employees of ONEO and its subsidiaries under the ESOP Warrant program.

Following this IPO and the exercise of the ESOP Warrants, assuming full subscription and exercise, ONEO's paid-up capital will increase to 1,353,700,000 baht, totaling 2,707,400,000 shares at a par value of 0.50 baht, up from the previously paid-up capital of 1,000,000,000 baht. The purpose of this IPO is to raise funds for project development and/or business expansion, to repay loans, and to provide working capital for ONEO's operations.