Delisted Robinson shares offered at Bt66.50 per share
Central Retail Corp Co Ltd (CRC) has offered shares in Robinson Plc, for delisted from the Stock Exchange of Thailand, at Bt66.50 per unit.
Its aim is to restructure its activities to cover all of its retail business both in Thailand and overseas, such as in Vietnam and Italy, CRC said on Tuesday.
CRC will next seek permission from the Securities and Exchange Commission to hold an initial public offering of the shares later this year.
CRC shareholders will meet on August 29 to consider the new business structure.
“The group plans to consolidate all of our retail business both domestic and overseas under the CRC,” it said.
CRC reported total revenue Bt206.07 billion at the end of 2018 and Bt53.62 billion for the first quarter of this year.
Robinson Plc informed the SET on Tuesday that CRC, its parent company, was tendering shares at Bt66.50, the price derived from a combination of CRC market price, trading multiples and discounted cash flow.
If the company pays dividends before payment of the conditional exchange offer, the offered price will be reduced proportionately, it said.
The offer period extends not less than 25 business days and not more than 45.
Robinson will have an extra-general shareholders meeting on September 5.
On Tuesday morning, shares in Robinson Plc closed at Bt63.75, up Bt3.50 (5.81 per cent) from Friday, with the trade value standing at Bt1.28 billion.
