Bangchak Corporation Public Company Limited (SET: BCP) has notified the Stock Exchange of Thailand of its intention to make a tender offer for all common shares of Bangchak Sriracha Public Company Limited (BSRC) in order to delist BSRC from the stock exchange.
BCP will offer up to 97,209,185 newly issued common shares to BSRC shareholders in exchange for their BSRC shares, at a ratio of 1 newly issued BCP share for every 6.50 BSRC shares.
The tender offer period will run from October 24, 2025, to November 27, 2025, with Kiatnakin Phatra Securities acting as the tender offer agent.
This tender offer aligns with BCP’s plan for shareholding and management restructuring.
At 11.30 a.m. Bangkok time, BCP was trading at THB 29.00, while BSRC was trading at THB 4.36. Based on the calculation, swapping BSRC shares for BCP will yield a profit of THB 0.66 per traded share (6.50 BSRC shares was THB 28.34). This accounts for the rise in BSRC’s share price of about 4% in the morning session.
Still, shareholders could hold on to BSRC and sell it later, but risk the securities being delisted in the future.
