Begistics Public Company Limited (SET:B) agreed to acquire 27.885787% stake in Westech Exponential Company Limited from Molin Energy Company Limited, FUNCTIONAL INVESTMENT PTE. LTD. and Thanchart Kitpipit for THB 1.4 billion on April 26, 2024. As part of the transaction, Begistics will acquire 51.6 million shares which will be purchased at a price not exceeding THB 27.5 6 per share.

Currently, Molin holds 10.6 million shares equivalent to 5.714325% stake in Westech, FUNCTIONAL INVESTMENT holds 34.5 million shares equivalent to 18.571448% stake in Westech and Thanchart holds 6.7 million shares equivalent to 3.600014% stake in Westech. The transaction will be funded from - money received back from trade debtors and money received from selling assets such as land in Phuket Province, investments in other companies. The Board of Directors of Begistics passed a resolution to approve the said transaction under the conditions of selling the said shares must receive approval from the seller, which is Molin Energy Company Limited, Functional Investment PTE Limited Company, and Thanchat Kitpipit.

The transaction will be completed within 2024.