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Firm Hopes to List Development Unit on Thai Stock Exchange.
Byline: Krissana Parnsoonthorn
Oct. 5--The Challenge Group led by Rasri Bualert hopes to list its property development unit on the Stock Exchange of Thailand by the end of next year.
Financial adviser Arthur Anderson Consulting is due to complete due diligence on the plan next month.
The Challenge Group is involved in the property business through subsidiaries Ying Ruay Real Estate and Royal Charoen Krung.
Ying Ruay builds low-rise housing while Royal Charoen Krung is building the 68-storey RCK Tower on Silom Road.
"We're seeking listing to raise low-cost funds to work seriously in property development," said Ms Rasri, the company's president.
After the completion of due diligence, the group will decide whether to find strategic partners or merge its two property units.
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