ASW lets 39E buy 99.99% of CE3 from CHEWA to bolster property business

Kaohoon··TH·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

AssetWise Public Company Limited, or ASW, informed the Stock Exchange of Thailand that its subsidiary, 39 Estate Company Limited, or 39E, in which ASW holds a 99.99% stake, has acquired 9,999 ordinary shares of Chewathai Estate 3 Company Limited, or CE3, from Chewathai Public Company Limited, or CHEWA, representing 99.99% of CE3's registered and paid-up capital, with a par value of 100 baht per share. The transaction was approved by the Executive Committee at its 29/2569 meeting on 25 June 2569, and the conditions precedent under the share purchase agreement were fully satisfied on 6 October 2569. Following the share acquisition, CE3 will become a subsidiary of ASW, and ASW and the seller are not related persons under the Securities and Exchange Commission's Notification No. ThorJor. 46/2568. This share acquisition is an investment in CE3 representing 99.99% of its registered capital, aimed at strengthening and furthering ASW's real estate development business going forward.

Impact on assets 2

Real Estate▲
Chewathai Public Company Limited
CHEWA
± MixedCapitalrelevance

CHEWA sells its 99.99% stake in CE3 to ASW's subsidiary; the article gives no terms or rationale to judge whether the divestment is positive or negative.

Off-coverage companies 2

39 Estate Co., Ltd.i
Private▲ PositiveCapitalrelevance

39E, 99.99% held by ASW, acquires 99.99% of CE3, expanding its real estate holdings.

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

CE3 is the target being acquired and will become a subsidiary of ASW; no financial terms or performance details are given to judge direction.