PTG Acquires an Additional 38% Stake in “SIAM AUTOBACS”, Boosting Voting Ratio to 80%

PTG Acquires an Additional 38% Stake in “SIAM AUTOBACS”, Boosting Voting Ratio to 80%

PTG Energy Public Company Limited (PTG) announced that on October 20, 2020 the Company has increased its share proportion in Siam Autobacs Co., Ltd. (SIAM AUTOBACS) by acquiring the existing ordinary shares from a shareholder of SIAM AUTOBACS in the number of 6,500,003 ordinary shares. As a result, the shares held by PTG in SIAM AUTOBACS to be increased from previously 6,500,000 ordinary shares, representing 38.26% of total shares to 13,000,003 ordinary shares, representing 76.52% of total shares.

 

In this regard, PTG expected that after the additional investment this time, the Company will be able to designate business strategy in a more flexible manner. 

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