VGI’s Latest Issued RO with allocation of VGI-W3, A Huge Success. Raising Over THB 12.9bn from Shareholders, Demonstrating Tremendous Capital Strength to bolster its O2O Marketing Solutions
VGI PLC, the leader of Offline-to-Online (“O2O”) Marketing Solutions across Advertising, Payment and Distribution platforms, receives overwhelming response for its latest rights offering (RO), issued along with allocation of warrants to shareholders, raising over THB 12,917mn from subscribed shares.
Mr. Nelson Leung, CEO of VGI, said, “Through the additional capital raised, we plan to settle our debt worth over THB 8,200mn, thereby fortifying our balance sheet and liquidity and providing a robust support to expand our O2O ecosystem, especially in Distribution business, where we seek to deliver Commercial Spaces Transformation and revolutionising those spaces to better response to consumer demands. This, we believe, will generate strong growth and sustainable returns to all stakeholders. In the past year, we have completed our O2O Marketing Solutions “jigsaw” through strategic investment in Fanslink Communication Company Limited to boost our Omni-channel service; Jay Mart Public Company Limited to expand distribution business; and Rabbit Cash Company Limited to offer digital lending services. Such landmark deals help to create synergies among our business subsidiaries and serve as pivotal value creations that lead to more effective and innovative services for our customers. They also attest to our solid performance over the years.”
“Moreover, we have announced our intention to invest in Nation International Edutainment Public Company Limited (“NINE”), the last puzzle of VGI’s O2O Marketing Solutions jigsaw. Through this latest deal, we will offer right to manage and operate our entire commercial spaces on the BTS Skytrain network to NINE, which, in turn, will enable us to deliver a powerful tool to help brands raise their exposures and sales.”
“With the constant improvement in Thailand’s COVID-19 situation, signalling great prospect for our company, coupled with our investments in new businesses that has led to a gradual recovery and significant returns, we are confident that VGI’s performance in 2022/23 will take a positive turn” added Mr. Leung.
