PROUD's board has approved the acquisition of two projects, NUE District R9 and NUE Cross Khu Khot, from Noble Development Public Company Limited (NOBLE) and TNL Alliance Company Limited (TNL), with a total project value exceeding 8.623 billion baht. This move aims to expand the portfolio, enhance diversity, improve liquidity, and drive significant growth, pushing the backlog to reach 10 billion baht. The proposal will be presented at the extraordinary shareholders' meeting on June 29, with plans to issue additional shares to existing shareholders (Rights Offering: RO) at a price of 1.75 baht per share, raising 2.49 billion baht from financial institutions as funding sources.

Mr. Pasu Liptapanlop, Executive Director of Proud Real Estate Public Company Limited (PROUD), revealed that on May 26, 2023, PROUD signed a contract to acquire 100% of the common shares of Khu Khot Station Alliance Company Limited and Rama 9 Alliance Company Limited from Noble Development Public Company Limited (NOBLE) and TNL Alliance Company Limited (TNL). Both companies are involved in the development of two projects: NUE District R9, a large high-rise condominium in a prime location in the CBD (Central Business District) along Rama 9 Road, near the MRT Rama 9 station, featuring a variety of indoor and outdoor common areas on over 6 rai, with a project value of 6.519 billion baht, currently achieving 83% in pre-sales, expected to recognize revenue by 2025. The second project, NUE Cross Khu Khot, is a low-rise condominium in a quality location on Lam Luk Ka Road, adjacent to the Khu Khot BTS station, offering numerous amenities within the project, valued at 2.104 billion baht, with 100% pre-sales, expected to start transferring ownership of units in early 2024.

The anticipated benefits from this investment will enable the company to expand its capital base, allowing for rapid growth and greater business expansion potential. This will immediately increase the backlog by 7.515 billion baht from the current 2.18 billion baht, enabling revenue recognition and net profit growth in 2024-2025, as well as enhancing the company's value and returns for shareholders.

The total investment for the acquisition of NUE District R9 and NUE Cross Khu Khot is approximately 1.735 billion baht. The company is preparing to present this at the extraordinary shareholders' meeting (EGM) to raise 2.49 billion baht through the issuance of new shares to existing shareholders of PROUD (Rights Offering: RO) at a ratio of 1.80 existing shares for 1 new share at a price of 1.75 baht per share, totaling no more than 624 million baht, with the remainder funded through loans from financial institutions to support operations and enhance liquidity.