SCG Hits the Ceiling after RATCH Announces a 51% Stake Acquisition

The share price of Sahacogen (Chonburi) Public Company Limited (SCG) hit the ceiling in the afternoon session after Ratch Group Public Company Limited (RATCH) announced an acquisition of 51% shareholding stake and would continue to tender for the remaining shares.

 

SCG rose ฿1.55/share or 29.25% to ฿6.85/share in the afternoon session with a trading value of 17 million baht.

 

RATCH stated that This investment is for the purpose of building strong business alliances between the company, which has expertise in the development of power plant projects, and Saha Group, which is considered as a large business group with main activities focusing on the manufacturing and distribution of consumer goods in Thailand and is the original founders of SCG that will continue to maintain its material shareholding proportion in SCG. The company and Saha Group will jointly develop SCG’s power plant to encourage its strength and sustainable growth in its full capacity, including promoting the increase of capacity and competence in other projects of Saha Group in the future. This investment aligns with the goal to increase the company’s total generation capacity of 10,000 MW and total business value of Baht 200,000 million by 2025. This investment is also in line with the sustainable growth strategies in power plant, infrastructure and other related businesses whereby the company will use its loan or working capital as the source of funds for this investment.