Dcon Products Public Company Limited signed an information memorandum to acquire an additional 3.3% minority stake in Prinsiri Public Company Limited from Wittawat Pornkul and Chana Towan for THB 66 million.

Dcon Products Public Company Limited (SET:DCON) signed an information memorandum to acquire an additional 3.3% minority stake in Prinsiri Public Company Limited (SET:PRIN) from Wittawat Pornkul and Chana Towan for THB 66 million on February 24, 2021. Under the transaction, DCON will acquire 20 million shares, representing 1.63% stake from Wittawat Pornkul and 20 million shares, representing 1.63% stake from Chana Towan at a price of THB 1.65 per share in cash. Post transaction, DCON, Wittawat Pornkul and Chana Towan will hold 10.08% stake, 3.21% stake and 3.39% stake in PRIN, respectively.

DCON will use its cash flow from its operations and/or loans from financial institutions to fund the acquisition. Share Purchase Agreement is expected to be entered by the third quarter of 2021. Transaction is expected to close within March 2021.

DCON estimated that the payment will not affect the Company's liquidity and working capital since the Company will have adequate cash flow from its operations.