KTC Completes the Acquisition of 75% Stake in Krungthai Leasing

Krungthai Card Public Company Limited (KTC) announced that the company has completely filled the conditions precedent and acquired the ordinary shares of Krungthai Leasing in the total of 75,050,000 shares from Krungthai Bank Public Company Limited (KTB), and has paid for the buying share in the proportion of 50% of the agreed buying share price, totaling 297,198,000 baht on May 21, 2021. Therefore, Krungthai Leasing is a subsidiary of the company. 

In this regard, the company will pay the remaining buying share price, which may be lower or higher than the agreed buying share price after the adjustment of the agreed buying share price as specified in the Share purchase Agreement within November, 2021.

The 2021 Annual General Shareholders’ Meeting of KTC on April 8, 2021, has passed the resolution to approve the acquisition of ordinary shares of Krungthai Leasing Company Limited from Krungthai Bank, which is the major shareholder and connected person of the company, in the total amount of 75,050,000 shares which is equivalent to 75.05% of the total shares of Krungthai Leasing with the par value of 10 baht per share at the price of 7.92 baht per share, the total amount being 594,396,000 baht.

The buying share price may be lower or higher than the agreed buying share price after the adjustment of the agreed buying share price as specified in the Share Purchase Agreement. Nonetheless, the highest buying share price after share price adjustment shall not exceed 13.15 baht per share which is a total of 986,907,500 baht.