KC Property Public Company Limited has announced the success of its rights offering (RO) for the issuance of new shares to existing shareholders, with a participation rate of 74%, raising over 215.6 million baht.

This RO was conducted in accordance with the resolution of the Extraordinary General Meeting of Shareholders No. 1/2021, which approved the increase of registered capital and the allocation of up to 2,914,009,678 new shares at a par value of 1.00 baht per share, offered to existing shareholders based on their shareholding ratio (RO). The allocation ratio was set at 1 existing share for every 2 new shares (with any fractions discarded) at a price of 0.10 baht per share.

Mr. Santi Piyatat, Managing Director of KC Property Public Company Limited, revealed that during the offering period from November 8 to 24, 2021, a total of 173 shareholders exercised their rights, raising 215,653,120.50 baht or 2,156,531,205 shares.

“The success of this RO demonstrates that the company continues to earn the trust and confidence of its shareholders. This will strengthen KC Property's financial position. The funds raised will be used as working capital for business operations, enhancing cash flow and ensuring sufficient liquidity for business activities. It will also provide flexibility in initiating projects and developing new platforms, such as digital marketing, allowing the company to implement strategies for developing affordable housing projects that meet the needs of the new normal and support urban growth, fostering sustainable growth,” Mr. Santi stated.

 

In addition to strengthening the company's financial position, KC Property is also preparing in all aspects, including restructuring management with a team of professional executives possessing diverse skills, transparency, and a shared vision to drive the company towards success. The development of various projects meets market demands and is well-supported by financial partners, enabling the company to enhance its competitive potential and be ready to achieve success in the real estate market, which is expected to recover to normal conditions next year.