Sabuy Technology Public Company Limited (SET: SABUY) has announced that it will tender all securities, including warrants, of Asiasoft Corporation Public Company Limited (SET: AS) for a total investment value of 7,137 million.
According to the Board of Directors’ Meeting No. 5/2023 of SABUY held on March 30, 2023, the Board of Directors’ meeting has resolved to approve the investment AS by making a Conditional Voluntary Tender Offer at a price of THB 18.50 per share, including the Warrants to Purchase the Ordinary Shares in AS No. 2 (AS-W2) at a price of THB 15.00 per share (collectively referred to as AS securities) and/or to exercise the conversion right of AS-W2 at a price of THB 3.50 per share.
As of March 29, 2023, the company holds 125,861,258 ordinary shares of AS, representing 24.84 percent of the number of paid-up shares.
AS is an online entertainment service provider and a leading online game operator in South East Asia. AS is the number one online game operator in Thailand and Singapore and the second largest online game operator in Malaysia and Vietnam and is currently providing 33 online game services in Thailand, Singapore, Malaysia, the Philippines, Vietnam, and Indonesia.
SABUY expected that the transaction will create an alliance between the company and the AS Group, which is a leading online game operator in South East Asia whose online game services include over 33 PC games and mobile games in five countries, ranging from free-to-play MMORPG, FPS and casual games, as well as offering of in-game items, serving as a platform that generate a large number of micro-transactions and repeat customers, resulting in extensive use of payment services and substantial user database, which will give an opportunity to the company to expand its ecosystem from having access to a larger customer base and to offer a wider range of products and services.
The merger of both companies’ ecosystems will increase an opportunity for the growth of revenue and cash flow of both companies and also increase an opportunity to continually generate returns, asset growth rate, profit and cash flow to the company and its shareholders in the long run.
