Pace Development Corporation Public Company Limited (“the Company”) has its main business in the high-end real estate development, lifestyle business, and gourmet food and beverage retail worldwide under the “DEAN & DELUCA” brand, where it became the owner of the stores in the USA and Thailand, and co-owner of the stores in Japan in a joint venture agreement. As of December 31st, 2017, the Company’s registered capital and paid up capital is 3,758 MB (million Baht). The Company has its head office situated at 87/2 CRC Tower, All Seasons Place, 45th Floor, Wireless Road, Lumpini, Pathumwan, Bangkok.
The Company was founded on September 1st,2003, under the name “Cinkara Company Limited” with fully paid capital of 2 MB and on November 6th, 2003, Mr. Sorapoj Techakraisri and the Company increased its capital to fully paid 10 MB in order to engage in the real estate development business sector.
YearSignificant changes within the year
Founded Cinkara Company Limited.
Commenced development of “Ficus Lane”.
Founded YLP Company Limited to develop a condominium under the name “Saladaeng Residences”.
Founded Pace Project One Company Limited (“Pace One”), founded Pace Project Two Company Limited (“Pace Two”), founded Pace Project Three (“Pace Three”) to develop the mixed-use MahaNakhon Development, and founded Pace Real Estate Company Limited (“PRE”) as a holding company to hold shares in Pace One, Pace Two and Pace Three in the proportion of 50% each respectively.
The Company restructured ownership portions within the group to prepare for listing in the Stock Exchange of Thailand (SET).
The Company completed the process of converting into a public company by issuing a capital increase of 600 MB for public offering. The Company is renamed Pace Development Corporation Public Company Limited (PACE).
The Company launched MahaSamutr, a Luxury mixed-use development in Hua Hin with Thailand’s first private Country Club and Villas.
The Company is listed in the Stock Exchange of Thailand (SET) with a registered capital of 2,054.3 MB fully paid-up. The Company bought shares and shareholder loans of the jointly controlled entities from IBC Thailand and IDJ Holdings Co., Ltd., resulting in PRE, Pace One, Pace Two and Pace Three becoming subsidiaries of the Company with the following ownership proportions (direct and indirect) approximately 68%.
The Company commenced construction of MahaSamutr Development, Hua Hin.
The Company bought land and successfully changed the proprietary right in MahaNakhon from leasehold to freehold.
Founded Pace Country Club Co., Ltd. and Pace Food Retail Co., Ltd.
Acquired DEAN & DELUCA, the world’s iconic gourmet food and beverage brand valued USD 140 million.
Officially launched and sold out 90% + of Nimit Langsuan project.
Bought the rest of the shares of Pace One, Pace Two, and Pace Three from IBC Thailand and PRE, and from IBC Thailand and IDJ Holdings Co., Ltd.
Allocated ordinary shares for private placement totally 542,722,500 shares for IBC Thailand Ltd. and IDJ Holding Co., Ltd. at THB 3.39 per share.
Acquired ordinary shares and assignment of the rights to receive a repayment of the outstanding shareholder loan of Dean & DeLuca (Thailand) Company Limited (“D&D Thailand”) from Mr. Sorapoj Techakraisri with total consideration of THB 240 million by issuing 64,690,027 new ordinary shares at an offer price of THB 3.71 per share in order to repay to Mr. Sorapoj Techakraisri.
Increased the capital by issuing newly ordinary shares by General Mandate to offer to the existing shareholders in proportion to their shareholding (Right Offering), in an amount of not exceeding 600,000,000 shares with the par value of Baht 1.00 per share.
Construction loans received from a Thailand’s Financial institution for a development of “Naradhiwas” project with the total amount of THB 1,090 million.
Launched MahaSamutr Villa & Country Club Project under the theme of “The Sound of MahaSamutr”, including “MahaSamutr Villas”, the luxury freehold villas, and “MahaSamutr Country Club” surrounded by MahaSamutr Lagoon - Asia’s largest man-made lagoon.
Registered for a joint venture company “Dean & DeLuca Café Japan Co., Ltd.”
Founded Pace Management Co., Ltd.
Commenced construction for a new super luxury development “Nimit Langsuan” on Langsuan Road.
Founded 2 new subsidiaries of D&D Mount Limited and D&D Fourteen Limited.
Loans received from Thailand’s Financial Institutions for expanding DEAN & DELUCA with the total amount of THB 1.1 Billion.
Allocated newly-issued ordinary shares of 176.3 million shares at THB 3.00 per share to Bell Investments Limited and Asension Trading Limited which are the specific investors (Private Placement) in exchange for the land in Niseko Sub-district, Hokkaido Prefecture, Japan, instead of cash payment.
Allocated the newly-issued ordinary shares of 320 million shares at THB 3.00 per share with the total amount of THB 960 million for international private placement investors.
Grand opening “MahaNakhon” Project under the theme of “MahaNakhon Bangkok Rising: The Night Of Lights”, officially Thailand’s tallest building at 314 meters and 77 storeys.
Founded Dean & DeLuca Small Format Lq. LLC, a subsidiary of Dean & DeLuca Inc.
Founded Dean & DeLuca Airport Company Limited.
Received the total investment of 8,441.2 million Baht from Apollo Asia Sprint Holding Company Limited, Goldman Sachs Investments Holdings (Asia) Limited, and Mercer Investments (Singapore) Pte. Ltd. by issuing ordinary shares of the Company’s two subsidiaries namely Pace Project One Company Limited (“Pace One”) and Pace Project Three Company Limited (“Pace Three”) totaling of 7,783.2 million Baht in the form of equity, and received 658 million Baht in the form of loan, in relation to the development and completion of the MahaNakhon project.