The share price of Thiensurat Public Company Limited (SET: TSR) fell nearly 14% to THB4.26 per share after the opening bell on Thursday after the announcement from Sabuy Technology Public Company Limited (SET: SABUY) to terminate several investments in TSR’s subsidiaries.
On September 8, 2022, SABUY announced that its Board of Directors had resulted in the resolution to cancel 1) Thiensurat Leasing Company Limited’s (TSRL) transaction, 2) the investment in land and building in total of 9 items and 3) Plus Tech innovation Company Limited Transaction.
SABUY stated that the company and TSR have carefully considered the view that entering into various transactions as mentioned above may not bring the best benefits to both companies as well as minority shareholders of the two companies therefore mutually agreed to cancel the aforementioned transactions.
Meanwhile, the share price of SABUY dropped slightly by 0.62% to THB15.90 per share.
SABUY added that even though the company had cancelled the transactions above, the company and its group is still pursuing the “SABUYVERSE the Next Visionary” strategy. The company will continue to create the synergy among the 7 Convenient and 7 Smarts in collaboration with TSR, who is now part of SABUY group of company and is a key driver in enhancing living experiences through accessible technology and through the SABUY Ecosystem.