CK sells big lot of 200 million BEM shares, lifting free float by 1.31%, worth 1.3 billion baht

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Summary · why it matters

Ch. Karnchang Public Company Limited, or CK, the largest shareholder of Bangkok Expressway and Metro Public Company Limited, or BEM, sold 200 million BEM shares through eight big-lot transactions worth a total of 1.3 billion baht, at an average price of 6.50 baht per share. That represents a discount of about 6.47% from the latest closing price of 6.95 baht. Before the transaction, CK held 6,459,449,984 BEM shares, or 42.26% of all shares. The main purpose of the transaction was to increase the proportion of shares held by minority shareholders, or the free float, of BEM. The deal took place through an overnight transaction on the night of September 23, with Kiatnakin Phatra Securities Public Company Limited, or KKP, acting as the placement agent for a group of domestic institutional investors. The offering was oversubscribed by as much as seven times the total number of shares offered, reflecting institutional investors' confidence in BEM's business fundamentals. Before the increase, BEM's minority shareholder holding stood at 41.11%, with 84.77% of shares held in scripless form.

Impact on assets 3

Industrials▲
CH. Karnchang PCL
CK
± MixedCapitalrelevance

CK sold 200M BEM shares (1.3B baht) at a 6.47% discount, reducing its stake from 42.26% to raise BEM's free float.

Financials▲