“MK” to Rise Again! After “Finansa” Clearly Turns Down SPALI’s Offer to Buy Shares

Mr. Prateep Tangmatitham, SPALI’s Chairman of the Board and Chief Executive Officer, reveals to Kaohoon Online that he still insists on acquiring 100% of MK shares from tender offer as planned after Finansa denies his offer in the meeting to buy their MK shares.

The total of 100% stake of MK equals to 992,010,177 shares, which is about 4 billion baht, using SPALI tender offer price at ฿4.10/share. The offer starts from July 25 to August 31.

Mr. Prateep sees that a competition with Finansa would not affect his tender offer in any other way, and if, in the end, SPALI does not get the majority shares, the second major shareholders will do as he simply want MK’s business to keep climbing.

While Finansa Group also does not concern whether they will get the majority shares in MK or not. They reportedly just want to support MK’s business, and willing to be the second major shareholders after whoever is in the first position.

 

Currently, the five major shareholders of MK are:

1) Mr. Prateep Tangmatitham: 11.294%

2) Finansa Public Co., Ltd.: 10.099%

3) C.P.D. Holding Limited: 9.072%

4) UBS AG SINGAPORE BRANCH: 8.826%

5) Mr. Philip Vera Bunnag: 6.229%

 

There is no further announcement from SPALI or Mr. Prateep on raising his tender offer from ฿4.10/share to a higher stake, since the market share, as of August 3, 2018 after Kaohoon Online reveals to public that the game is still on between SPALI and Finansa, already climbs to ฿4.64/share. The “money game” is expected to last until the offer officially ends.