TRUE Acquires 70% of Philippine Loyalty Program Provider to Strengthen Digital Offerings

True Corporation Public Company Limited (TRUE) announced that True Digital Group Company Limited, a wholly owned subsidiary of the company’s Group, has invested in ZAPGroup Inc. (ZAP), a company in the Republic of the Philippines which engaged in privilege and online-to-offline platforms, in the proportion of 70.00% of ZAP’s total issued shares for a consideration of USD4,781,961.11 or approximately Baht 162,793,736.656 (calculated from the Bank of Thailand’s exchange rate as at 29th September 2021, 1 USD = 34.0433 Baht). 

The objective of this investment is to strengthen the company’s digital offerings and to gain potential future return on investment. Consequently, ZAP became the company’s new subsidiary.