PTT Public Company Limited (SET: PTT) has announced the notification of the establishment of PTT’s subsidiary to operate the business of electric vehicle dealer via the Stock Exchange of Thailand (SET).
PTT stated that the Board of Directors of Arun Plus Company Limited (Arun Plus), PTT’s 100% indirectly owned subsidiary, at the meeting No. 5/2567 on 15 March 2024 approved Arun Plus to establish X Mobility Plus Company Limited (X Mobility Plus) with the registered capital of Baht 10 million which is 100% owned through Neo Mobility Asia Company Limited (Neo Mobility Asia), a subsidiary of Arun Plus. The objective of the establishment of X Mobility Plus is to operate as a dealer of the electric vehicle under XPENG brand (XPENG dealer), which aligns with PTT Group’s investment strategy in Future Energy. The establishment of X Mobility Plus was completed on 19 March 2024.
This transaction is not a connected transaction and the transaction size does not require any disclosure under regulations on acquisition and disposition of assets of the listed companies. However, this is to report that a listed company or its subsidiary company acquires an investment in another company, which results in that other company becoming a subsidiary company of the listed company or its subsidiary company. Therefore, this transaction designates X Mobility Plus as the subsidiary of PTT.
