Sky ICT Public Company Limited (SET: SKY) has announced that the company will purchase 150,000 ordinary shares of Astro Solutions Co., Ltd. (ASTRO), which is an associated company, from current shareholders, representing 30.00% of ASTRO’s registered capital which will result in the increase of the company’s shareholding in ASTRO to 60.00%. As such, ASTRO will become a subsidiary of the company.
Entering into the transaction, the company will provide compensation to the current shareholders of ASTRO in the amount THB 15,000,000.00 by using the working capital of the company.
At present, ASTRO has a total registered capital of THB 50,000,000.00, divided into 500,000 shares with a par value of THB 100.00 per share. Its business is to provide sales and marketing services for the SAWASDEE Application developed by the company. SKY noted that it foresees that increasing the proportion of investment in ASTRO will benefit the company in expanding the current business, and SKY will be able to recognize ASTRO’s income immediately after the transaction.