SIRI Invests ฿1.6Bn for 15% Stake in “XSpring” to Diversify into Financial and Brokerage


Sansiri Public Company Limited (SIRI) has announced that its Board of Director has approved an investment in XSpring Capital Public Company Limited with a total investment value of 1.6 billion baht to hold 15% of the total paid-up capital.

 

The Board of Directors on May 14, 2021, has approved the investment in XSpring Capital Public Company Limited (XSpring), which operates a business of investing in various interesting businesses both in Thailand and overseas to aim for a return on investment, by purchasing the newly issued ordinary shares in the capital increase of XSpring which will be offer and allot as Private Placement in the number of 403,379,000 shares, at the offering price of Baht 4.10 per share, totaling Baht 1,653,853,900.00, equivalent to shareholding percentage of 15% of the total paid-up capital of XSpring.

 

The main objective for this investment is to diversify the company’s portfolio to financial and brokerage service.

 

SIRI stated that once the company has been allocated the said capital increase ordinary shares, it must be one of shareholders who is entitled to subscribe for the Rights Offering shares of XSpring in proportion to its shareholding after XSpring has been complete the offering of new ordinary shares to such Private Placement in a ratio of 1 existing ordinary share to 2 new ordinary shares at the price of Baht 0.50 as well.

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