SABUY Invests THB2.4 Billion to Top Ownership in ‘Singer Thailand’ to 15%

Sabuy Technology Public Company Limited (SET: SABUY) has announced an investment in Singer Thailand Public Company Limited (SET: SINGER) for an additional 10.70% shareholding stake, taking its total holding to 15%.

SABUY stated that the Board of Directors approved the investment in additional ordinary shares of SINGER in the amount of not more than 87,951,300 shares at a par value of 1 baht per share, at an average share price of not more than 27 baht, totaling total amount not exceeding 2,374,685,100 baht or an amount not exceeding 10.70 percent of the paid-up shares through the trading board of the Stock Exchange of Thailand.

SINGER is the distributor of various electric products and appliances under the SINGER brand and trademark such as sewing machines, home appliances, together with commercial appliances such as repair tools, agriculture equipment, mobile phone top-up machine, coin-operate gasoline dispenser machine, with the aim to meet the varying range of needs of both household consumers and small shops. These appliances and products are sold via retail outlets that are branches of SABUY as well as via our numerous sales representatives. More than 80 percent of such sales are made on a hire purchase installment basis; whereby SABUY provides such installment sales through its subsidiary company, SG Capital Co., Ltd., in which the Singer has a 74.92 percent equity holding.

SABUY noted that SINGER will catalyze the expansion of SABUY’s Ecosystem by synergizing with SINGER’s business with high potential in order to reach out to a wider customer base.