7UP Invests ฿263m in “Seahorse”, Expecting to Expand Cargo and Passengers Business

Seven Utilities and Power Public Company Limited (7UP) approved to invest in Seahorse Ferry Company Limited. (Seahorse) shall invest to purchase the newly issued ordinary shares of Seahorse by 379,999 shares at the price of THB100 per share, total investment value is THB 37,999,900 (par value of THB 100 per share) which is accounted for 38.00% of registered capital after the capital increase of Seahorse. Moreover, Seahorse plans to invest in the cargo and passengers-ship project between eastern region, lower central region and southern region. The total project value is THB 693 million. When considering the proportion of investment will have more THB 225.34 million. Total investment value is THB 263.34 million which the source of funds comes from Working capital of 7UP.

The benefit for 7UP from the transaction is 7UP expects that in the future business of cargo and passengers between the eastern region, lower central region and southern region will contribute to solving the current traffic problem. According to the concept of the Minister of Transport for contributing to solving in the area of Rama2 Road. The cargo and passengers-ship will be an option for operators and people who use transportation routes. In addition, Seahorse has expertise in this business. 7UP has seen the long-term benefit of investing in this business.