FPT Invests ฿400m to Acquire a Plot of Land for Future Property Project in Bangkapi

Frasers Property (Thailand) Public Company Limited (FPT) has announced the investment in System Assets Company Limited, a company engaging in the property development business, by FPT and/or its subsidiary to acquire shares of System Assets in the amount of 40,000,000 shares, representing 100% of the total issued and sold shares of System Assets at the price of ฿10.00/share, totaling THB 400,000,000 from Data Assets Company Limited (Data Assets), whose 99.99% of its shares are held by TCC Assets (Thailand) Company Limited (TCC Assets).

 

System Assets operates property development business, having ownership in land represented by 1 plot of land title deed with the total area approximately 15 rai and 52.20 square wah which located at Bangkapi District, Bangkok.

After completion of shares acquisition of all shares in System Assets, such land is planned to be used for the property development project in the future. The appraised value of the land is THB 180,000 per Square Wah.