The share price of SPCG Public Company Limited (SPCG) rose as much as 2.81% to ฿21.90/share after the announcement of an investment in the solar farm project with a production capacity of 500MW project, which is used for the new city area of Eastern Economic Corridor Special Development Zone (EEC).
The Board of Directors also announced a share swap with Mitsu Power Group Co., Ltd. to acquire an additional 400,000 shares of SET Energy, in a proportion of 40%. The company will issue and consider an allotment of ordinary shares, not exceeding 81,800,000 shares, with par value of THB 1.00 to Mitsu.
This share allotment is for an exchange of Mitsu’s entire business transfer which is expected to be acquired by SPCG by January 2021.
The acquisition of 40% in SET Energy from Mitsu will top up SPCG stake to 80% in total.