Thai Wah Public Company Limited (SET: TWPC) has informed the Stock Exchange of Thailand that the Board of Directors meeting No. 5/2024, which was held on November 25, 2024, has resolved to approve the establishment of a new subsidiary company in Thailand, with the following details
The new subsidiary is a business concerning the trading, manufacturing, and distribution of tapioca-based products and related products. TWPC would hold 100% of the new subsidiary THB 1 million of total registered capital. The incorporation is expected to be completed within January 2025
Preliminarily, the company wishes to inform that, by the end of March 2025, Fuji Nihon Corporation (FNC), a company incorporated under Japanese law and listed on the Tokyo Stock Exchange (TSE), is anticipated to invest by purchasing 49% of the total shares in the new subsidiary with an investment value of approximately THB 500 million, subject to the agreement to be entered by the company and FNC.
After FNC invests in the New Subsidiary, the Company will hold 51% of its total shares, thereby maintaining the New Subsidiary as a subsidiary of the Company.
