BH Plunges 5% to ฿117 after BDMS Announces a Disposal of All Shares!

The share price of Bumrungrad Hospital Public Company Limited (BH) dropped ฿6.50/share or 5.26% to ฿117.00/share at the opening bell after BDMS announced a disposal of all shares in the company this morning.

 

On November 24, 2020, Bangkok Dusit Medical Services Public Company Limited (BDMS) has announced that the company has entered into the Share Sale and Purchase Agreement with the purchaser to dispose all of its ordinary shares in Bumrungrad Hospital Public Company Limited (BH), totaling 180,715,806 ordinary shares, representing 22.71% of the total issued and paid-up shares of BH at the price of THB 103 per share. The total amount of the transaction is approximately THB 18,613.7 million.

BDMS stated that the purchaser is not a connected person of the company or its subsidiaries, and is expected an initial sale of certain amount of its ordinary shares in BH be made on the Stock Exchange of Thailand within November 26, 2020, through the trade report – big lot transaction, totaling of 90,500,000 shares at the price of THB 103 per share with a total value of approximately THB 9,321.5 million.

For the remaining ordinary shares in BH of 90,215,806 shares or approximately 11.34% of the total issued and paid-up shares of BH, the transaction is expected to be completed within December 31, 2020.