TEAMG Gains Over 81% in 7 Days in Speculation of Synergy with SCC
TEAMG has risen more than 81% in seven straight days since the share price was 2.32 baht on September 1, 2021
The share price of Team Consulting Engineering and Management Public Company Limited (TEAMG) rose ฿0.58/share or 16.20% to ฿4.16/share as of 11:01 local time in Thailand, with a trading value of 1,197 million baht.
TEAMG has risen more than 81% in seven straight days since the share price was 2.32 baht on September 1, 2021.
On September 7, 2021, TEAMG announced that the subsidiary of Siam Cement Public Company Limited (SCC) namely Nexter Ventures has acquired a 9.90% shareholding in the company, which resulted in SCC becoming TEAMG’s largest shareholder.
TEAMG notifies that the company has been informed by the major shareholders including Mr. Prasert Patramai, Mr. Peerawat Premchun, Mr. Thanasarn Khuayjarernpanishk, Mr. Kittipol Bunnim, and Mr. Issarin Patramai that Nexter Ventures Co.,Ltd. (Nexter Ventures), a subsidiary of Siam Cement Public Company Limited (SCC), has purchased the shares from them under the Big Lot Transaction through the Stock Exchange of Thailand on September 7, 2021.
The total number of shares purchased were 67,328,800 shares, equal to 9.90% of the total issued and sold shares, at the price of 2.54 baht per share.
The acquisition of Nexter Ventures will promote the collaboration of both business operations in the areas of engineering, architecture, environment, technology and innovation, such as the environmentally friendly construction technologies.
Ms. Nuanprae Patramai, an Investor Relation of TEAMG, stated that Nexter Ventures Co., Ltd., a subsidiary of SCC, acquiring a 9.90% ownership in TEAMG will complement the operations for both parties. SCC provides innovative solutions and high-quality goods, while TEAMG has vast experience in consulting engineering and the environment. This collaboration will benefit both companies.