Dcon Products Public Company Limited (SET:DCON) signed an information memorandum to acquire additional 2.05% stake Prinsiri Public Company Limited (SET:PRIN) from Wittawat Pornkul, Arisara Towan and Asama Towan for THB 60.5 million on February 23, 2022.
Wittawat Pornkul sell 15 million shares of PRIN, representing 1.23%, Arisara Towan sell 5 million of PRIN, representing 0.41%, Asama Towan sell 5 million shares of PRIN, representing 0.41% of Prinsiri Public Company Limited. Pre acquisition Dcon Products Public Company Limited held 10.08% stake in Prinsiri Public Company Limited. Post acquisition Dcon Products Public Company Limited 148,000,000 shares of Prinsiri Public Company Limited , representing 12.13% stake in Prinsiri Public Company. The board of Prinsiri considered that the Transaction will benefit the Company and its shareholders in terms of the expansion of the downstream business continues from the construction material that is the Company's main business. and the purchase consideration is reasonable. The Company anticipates that the Share Purchase Agreement (SPA) will be entered into with the Seller by March 2022. Share acquisition and payment is estimated to occur within March 2022.