Industrial estate developer Pinthong Industrial Park Plc (PIN) will sell 290 million shares, representing 25% of total issued and paid-up ordinary shares, through an initial public offering within this quarter for further investments in its industrial estates in the Eastern Economic Corridor (EEC).
Pira Patamavorakulchai, chief executive of PIN, said the company plans to build a new 100,000-square-metre logistics facility named Logistics Park in Chon Buri with a 1.53-billion-baht budget.
"We divided its development into two phases, with construction to start this quarter," he said.
The company plans to spend 900 million baht of the budget buying land and 630 million baht developing infrastructure.
PIN expects a good business prospect after Chinese investors plan to expand their investments to Thailand.
"The company has signed agreements with two Chinese companies which bought land plots from us for their investments under the state's S-curve industry scheme," said Surach Patanawongyuneyong, chief operating officer of PIN.
The company has a total of six industrial estates covering 7,500 rai in Chon Buri and Rayong and one logistics park.
Mr Surach said the company focuses on industrial estate development in the EEC as it is attractive to local and foreign investors.
The EEC emphasises 12 targeted S-curve industries, including new-generation cars, smart electronics, and affluent, medical and wellness tourism.
PIN also plans to invest in renewable energy projects to serve investment in industrial estates.
"The company plans to invest in renewable energy development in Pinthong Industrial Estates 5 and 6, each with electricity generation capacity of 140 megawatts," he said.
PIN expects total revenue will grow by more than 60% because of growing demand for industrial land and prime locations of its industrial estates, which are not far from Suvarnabhumi airport, Laem Chabang deep-sea port in Chon Buri and Map Ta Phut port.