Suntech Metals Company Limited entered into an agreement to acquire 90% stake in Wave ESG Company Limited from Wave Entertainment Public Company Limited (SET:WAVE) for THB 0.65 million on December 15, 2022. Under the terms of transaction, Suntech will acquire 74.95 million shares at price of THB 0.001 per share. Post completion, Wave Entertainment Public Company Limited will hold only 10 % of shares in Subsidiary Company and Subsidiary Company will become an investment.

As of December 2021, Wave ESG reported revenue of THB 1.64 million and total assets of THB 0.12 million. After the completion of this transaction, Cathleen Maleenont, Kijcharnpit Sukangwanwit, Thirapong Khumruangrit and James Andrew Moore directors nominated by the company will resigned. Wave Entertainment Public Company board approved the transaction.

The deal is expected to close within December 2022.