TQM Corporation Public Company Limited (SET:TQM) agreed to acquire additional 44.35% of stake in TQR Public Company Limited (SET:TQR) from Unchalin Punnipa and Napassanun Punnipa for approximately THB 520 million on March 8, 2022. As per the terms, 102 million shares will be acquired at THB 5.10 per share. The source of fund for the TQR share purchase transaction is from the TQM's working capital from operations. In a related transaction TQM made an offer to acquire 55.57% of stake in TQR. The Board of Directors of TQM approved and proposed the transaction for the approval of TQR shareholders. TQM expected the transaction to be completed within the second quarter of 2022. Silom Advisory Company Limited appointed as independent financial advisor to TQM.

TQM Corporation Public Company Limited (SET:TQM) completed the acquisition of additional 44.35% of stake in TQR Public Company Limited (SET:TQR) from Unchalin Punnipa and Napassanun Punnipa on April 29, 2022.