PTT Global Chemical Public Company Limited (SET: PTTGC) reported on Monday that the merger and establishment of AGC Vinythai Public Company Limited (AVT) was completed on July 1, 2022, and that after the shares allocation of AVT, the Company effectively owns 27.32 percent of the ordinary shares in AVT.
According to the disclosure of PTTGC dated May 3, 2022 regarding the progress of the Tender Offer for the Securities of Vinythai Public Company Limited (VNT), the Company’s ownership of VNT as of May 3, 2022 was 37.82 percent. The Company also planned to proceed with supporting the amalgamation between VNT and AGC Chemicals (Thailand) Co., Ltd. (AGC-TH) to form a new company,namely AGC Vinythai Public Company Limited, or AVT.
PTTGC believes that the establishment of AVT will streamline and promote its business development to become one of the leading integrated PVC and Chlor-Alkali producers in Southeast Asia.
