True Corporation Public Company Limited (SET: TRUE) has announced via the Stock Exchange of Thailand regarding the Notification of Change of Major Shareholder of the Company on Friday, with the details as follows:
As True Corporation Public Company Limited (the Company), previously disclosed to the Stock Exchange of Thailand that the Company had been notified of the share purchase agreement between Telenor Thailand Investments Pte. Ltd. (Telenor) (as a Seller), and Arise Digital Technology Company Limited (Arise) (as a Buyer), an investment holding company ultimately owned by Mr. Suphachai Chearavanont, as detailed in the referenced letter.
The Company has been additionally informed by Telenor and Arise that the share purchase transaction between them was successfully completed on 13 March 2026. Arise acquired shares of the Company from Telenor, representing 24.95% of the Company’s paid-up capital. In this regard, Arise does not fall within the scope requiring a tender offer pursuant to the rules, conditions, and procedures in accordance with Notification of the Capital Market Supervisory Board Re: Rules, Conditions, and Procedures for the Acquisition of Securities for Business Takeovers. Consequently, Arise has become a major shareholder of the Company, replacing Telenor.
As a result of the above-mentioned share transaction by the major shareholders, the shareholding structure of the Company has changed as follows:
The change of major shareholders of the Company as above-mentioned does not have a material impact on the business direction, management, or operations of the Company.
