Master Ad Plc (MACO) says rights offering reservations doubled following its domestic billboard assets sale to Plan B Media.
MACO secured 811 million baht from its existing investors through the issuance of 2.76 billion shares.
Phoon Chiong Kit, chief executive of MACO, said the massive growth potential of S-curve industries and the company's strategic shift from collaborating with traditional out-of-home media towards digital-centric companies has proven to be a great success.
"We are confident our strategic transformation will give rise to the best new version of MACO," Mr Kit said.
"With our cash on hand and a robust financial position, we can explore new opportunities in the digital industry, driving secure and sustainable growth for our shareholders and all stakeholders for years to come."
MACO recently launched a joint venture with YGGDrazil Group (YGG) to capture growth in the digital content industry, particularly online gaming in the Asean market. The 50:50 joint venture is worth 200 million baht.
"With YGG we are getting a head start in the gaming market, which has a market value of roughly 29 billion baht and is projected to grow by 16% annually the next two years thanks to global technological advancement and changing consumer lifestyles," he said.
"E-sports are gaining in popularity among the younger generation."
MACO also invested in Zipmex, Asia-Pacific's fastest-growing digital assets exchange platform.
"Zipmex has joined forces with Grammy to propel the Thai music non-fungible token market onto the world stage, signifying the growing significance of digital assets in everyday life," said Mr Kit.
"To date, Zipmex has more than 1 million registered accounts and aims to achieve unicorn status in the next two years."
