BG Container Glass Public Company Limited (SET: BGC) has disclosed a revised statement for its Share Repurchase Program for Financial Management, limiting the amount of purchase share from 62,499,960 to 41,666,640 shares. This has put the ceiling for this share repurchase program up to THB 7.20 per share.
The announcement noted that the Board has authorized the purchase of not exceeding 41,666,640 ordinary shares, which equates to not exceeding 6% of the total paid-up capital, for a maximum amount of 300 Million Baht; the repurchase will be conducted via Automatic Matching through the trading system of the Stock Exchange of Thailand during the period from November 24, 2025, to May 22, 2026.
Repurchase Price Criteria
The criteria established for determining the repurchase price stipulate that the price shall not exceed 115% of the average closing price during the five trading days prior to each repurchase date.
For context, the average closing price for the 30 consecutive business days prior to the resolution date (from October 7, 2025, to November 19, 2025) was Baht 4.35 per share.
Rationale and Financial Context
The company cited two primary reasons for undertaking the share repurchase:
- To manage the Company’s excess liquidity for maximum benefit.
- To increase the Return on Equity (ROE) and Earnings Per Share (EPS).
BG Container Glass Public Company Limited reported its financial position as of September 30, 2025, based on reviewed/audited separate financial statements, noting that unappropriated retained earnings amounted to Baht 1,050.95 Million.
Regarding liquidity, the company reported debts due within six months from the repurchase commencement date amounted to Baht 375 Million. The company certified that it possesses sufficient excess liquidity to fund the Baht 300 Million repurchase, stating that it has cash deposits of Baht 250 Million, operating cash flow, and a remaining short-term loan facility of Baht 3,742 Million. The company has confirmed that the repurchase will not affect its ability to repay debts due within six months.
As of the latest record date on August 28, 2025, the number of minority shareholders (free float) represented 23.65% of the Company’s paid-up capital.
Expected Impacts
The company outlined the expected impacts of the program:
- Impact on Shareholders: Shareholders are expected to receive higher Return on Equity (ROE) and Earnings Per Share (EPS) due to the reduction in the number of outstanding shares.
- Impact on the Company: The company’s liquid assets and the book value of shareholders’ equity will decrease. Should the full amount be utilized upon completion of the project, the liquid assets and book value of shareholders’ equity will decrease by the amount used for the repurchase.
