Asphere Innovations Public Company Limited (SET:AS) agreed to acquire 9.22% stake in Bitkub Online Co., Ltd. from Bitkub Capital Group Holdings Co., Ltd for THB 600 million on June 30, 2023. Asphere shall pay a deposit of THB 60 million to Bitkub Capital Group within the date of the share sale and purchase agreement. It is expected that a share sale and purchase agreement shall be entered into within June 30, 2023.

The source of funding is from Asphere?s internal operating cash flow and/or loans from financial institutions and/or other parties to enter into the transaction. On 31 July 2023, the Company made a payment of THB 450,000,000 to the seller, which came from a loan of THB 320,000,000 and internal cash flow in the company of THB 130,000,000. Bitkub Online reported revenues of THB 2.8 billion, EBIT of THB 461 million, net profit of THB 342 million, equity of THB 531 million and total assets of 31.9 billion for the year ending December 31, 2022.

The transaction was unanimously approved by the Board of Directors of Asphere. Completion of the transaction is subject to approval from the Board of Directors and shareholders of Bitkub Capital Group. The transaction is expected to complete within July 31, 2023.