SET-listed Srisawad Power 1979 (SAWAD), a leading retail lender, will spend up to 2.01 billion baht to acquire those shares of Bangkok First Investment and Trust (BFIT) which it does not already own.
The company will enter into an agreement with Narissara Kitpipit to acquire 53 million shares or a 26.5% stake in BFIT at a price not exceeding 10.50 baht each for up to 557 million baht, it said in a filing to the Stock Exchange of Thailand (SET) yesterday.
SAWAD will also launch a voluntary tender offer to purchase another 127 million shares or 63.7% in BFIT from other shareholders at a price of up to 11.42 baht, well below yesterday’s market price of 40.50 baht.
SAWAD in June acquired a 9.8% stake in BFIT worth 158…
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