Nation Group goes debt-free after sale of NBC shares
After four years of financial and organisational restructuring, Nation Group (Thailand) is set to become debt-free following Wednesday’s sale of shares in Nation Broadcasting Corporation (NBC).
Nation Group sold 691,032,167 NBC shares at a price of 1.30 baht apiece, totalling 898.34 million baht, to two major shareholders of One to One Contacts – Boon-aue Chitthanom and Nattapong Sitaworarat.
With the NBC purchase, One to One and its allies plan to expand its Happy Home Shopping business to cover health products and enter the telemedicine business in the future.
The shares sold accounted for 61.4 per cent of Nation Group’s stake in NBC.
The sale was approved by Nation Group shareholders in April following a resolution by its executive board in March.
The NBC share price on the Stock Exchange of Thailand was 2.54 baht, down 0.04, at close of trade on Friday.
NBC Next Vision (NNV), which operates Nation TV and Nation Online, will remain with Nation Group after the NBC share sale.
Nation Group is focused on online businesses, which have generated increasingly significant revenue every month. Nation TV and Krungthep Turakij are two of its non-online businesses.
