Singha Estate sells stake in NVD
A group of Nirvana Daii (NVD) shareholders led by Sornsak Somwattana on Wednesday confirmed they had purchased Singha Estate’s entire shareholding in NVD of 711,855,320 shares, or 51.56 per cent of the total stock of NVD, at Bt2.52 per share.
Sornsak said: “We are very confident in the enormous potential of Nirvana Daii and look forward in the years ahead to building on this company’s exceptional track-record as a developer of some of the finest residential properties in Thailand.”
Said Naris Cheyklin, chief executive officer of Singha Estate: “Singha Estate is structuring its portfolio of investments to accelerate growth, while remaining committed to maintaining a significant presence in Thailand’s residential development sector. During the course of this year, we plan to unveil some exciting new initiatives that will rapidly advance the company in this direction.”
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