True Corporation Public Company Limited (SET: TRUE) has announced that True Digital Group Company Limited (True Digital Group), a wholly owned subsidiary of TRUE’s group, has made additional investment in Mediaload PTE. Ltd. (Mediaload), a company established in the Republic of Singapore which operates digital media and digital platform businesses.
With this investment, True Digital Group’s shareholding in Mediaload increased from 40.05 percent to 56.57 percent, which is an increase of 16.52 percent of proportion in Mediaload’s total issued shares for a consideration of USD 3,520,000 or approximately THB 128,466,624.
TRUE stated that the objective of this investment is to strengthen the company’s digital media services and for the opportunity to gain potential future return on investment.
As a result of this investment, the status of Mediaload has changed from an associated company to a subsidiary of TRUE with a holding stake of 56.57 percent, while the remaining 40.05 percent is held by Groupin Pte. Ltd.
