On March 16, 2016, Pruksa Holding Public Company Limited had accomplished the business restructuring was established with initial registered capital equalling to Bt 10,000. Later, the Extraordinary Shareholders’ Meeting 1/2016 passed a resulotion to allow an increase in the Company’s registered capital from Bt 10,000 to Bt 2,273,217,600 by issuing new common stocks totaling 2,273,207,600 stocks at par value of Bt 1 per stock to support the submitted tender offer and the issuance of warrant for Pruska Holding and at the same time ensuring alignment with the increase in registered capital of Pruksa Holding.
On 25 November 2016, the Company reported that as a result of the tender offer, the Company had acquired 97.90% of the total number of paid up shares of Pruksa Real Estate Public Company Limited. After the completion of the tender offer, the Company’s shares was listed on the Stock Exchange of Thailand on 1 December 2016 in place of the Pruksa Real Estate Public Company Limited’s shares which was delisted from the Stock Exchange of Thailand on the same day.
Objectives of Establishing a Holding Company
- To increase flexibility to expand the business and facilitate strategic partnership with partners who have expertise in each particular area.
The holding company structure will make it easier for the Company to form joint ventures or strategic alliances with partners who have expertise in each particular business In the future, as illustrated in the 3 diagram below. The increased opportunity to expand into new businesses will lead to greater competitiveness and higher return to shareholders.
- To limit and manage business risks.
- To increase effectiveness and flexibility of the Company’s management structure to better suit business operations in the future.