Eyes on ESSO after BCP Tenders at THB9.89 for 3.50% Upside

The market is anticipating a spike in Esso (Thailand) Public Company Limited (SET: ESSO) share price after Bangchak Corporation Public Company Limited (SET: BCP) announced the final decision on the offering price at THB9.8986 per share, giving it a 3.5% upside from the closing price on Friday at THB9.55 per share.

The offering will be made to ESSO’s major shareholder, ExxonMobil Asia Holdings Pte. Ltd. BCP added that it will make a mandatory tender offer for all remaining shares of ESSO from all ESSO’s shareholders.

The payment transfer of share price to ExxonMobil Asia will be on 31 August 2023.