ASW acquires 99.99% of CE3 via subsidiary 39E to strengthen real estate portfolio

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2▲1 ▼0Impact / 5
Summary · why it matters

Assetwise Public Company Limited, or ASW, announced that 39 Estate Company Limited (39E), a subsidiary in which ASW holds a 99.99% stake, has acquired 9,999 ordinary shares of Chewathai Estate 3 Company Limited (CE3), representing 99.99% of CE3's registered capital, from Chewathai Public Company Limited, or CHEWA, in order to support and expand the company's real estate development business. The share purchase was approved by ASW's Executive Committee at its 29/2026 meeting on 25 June 2026, and all conditions precedent under the share purchase agreement were fully satisfied on 6 October 2026, making CE3 a subsidiary of ASW. 39E is the buyer and CHEWA is the seller, and neither party has a relationship that would qualify as a connected person under the criteria of the Securities and Exchange Commission. Following the transaction, CE3's shareholding structure changed to 39E holding 99.99% and Mr. Kromchet Vipanpong holding 0.01%, while the company's board of directors comprises Mr. Kromchet Vipanpong, Mr. Weeraphan Vipanpong, and Miss Paneeta Malaiwong.

Impact on assets 2

Real Estate▲

Off-coverage companies 2

39 Estate Co., Ltd.i
Private▲ PositiveCapitalrelevance

39E, ASW's 99.99%-owned subsidiary, is the buyer acquiring 99.99% of CE3.

Chewathai Estate 3 Co., Ltd.i
Private± MixedCapitalrelevance

CE3 is the target being acquired, becoming a subsidiary of ASW via 39E; ownership change is neutral in itself.