Shares of B2S owner COL rally as Central announces acquisition plans
The share price of COL and Central Retail Corporation (CRC) rose sharply during the morning session on Tuesday (September 15) after CRC announced it was acquiring COL and delisting it from the Stock Exchange of Thailand (SET) in a bid to expand its retail business.
The price of COL shares rallied 13.41 per cent, rising by Bt2.20 to Bt18.60, with transactions totalling Bt106 million. CRC, meanwhile, rose by Bt1.50 or 5.66 per cent to Bt28 per share.
PBHD, a CRC subsidiary, will purchase 640 million COL shares at Bt19 per share worth a total of Bt12.16 billion. The tender offer is expected to be completed within the first quarter of next year.
COL retails stationary, office products, books, entertainment media and lifestyle products under its retail banners Office Mate and B2S.
