Pace Development Corporation Public Company Limited (SET:PACE) announced that it has entered into an agreement with Asia Alpha Equity Fund 2 for a private placement of 500,000,000 shares with par value of THB 1 per share at a price of THB 0.58 per share for gross proceeds of THB 290,000,000 on August 29, 2018. The transaction will involve participation from Asia Alpha Equity Fund 2. The investor will acquire 4.15% stake in the company pursuant to the transaction. The transaction has been approved by the board of directors of the company.