ASW sells 49% stake in WE23 to Tokyo Tatemono for 24.49 million baht

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2▲1 ▼0Impact / 5
Summary · why it matters

Assetwise Public Company Limited, or ASW, disclosed that its board of directors, at its 4/2569 meeting on August 6, 2569, approved the sale of ordinary shares of Wise Estate 23 Company Limited, or WE23, a subsidiary in which ASW holds 99.97%, to Tokyo Tatemono (Thailand) Company Limited, or TTT, a company in the group of Tokyo Tatemono Co., Ltd., a company listed on the Tokyo Stock Exchange. ASW is selling a 49% stake of the registered capital in WE23, representing a total transaction value of 24.49 million baht, to be paid in cash. The sale price is higher than the net book value and higher than the par value. After the transaction, WE23 will cease to be a subsidiary of ASW but will remain a joint venture. ASW's objective is to open opportunities for joint investment with international partners, as well as to extend and support the development of the company's real estate projects. As for TTT, its major shareholders are Tokyo Tatemono Co., Ltd. with 99.9998% and Tokyo Tatemono Asia Pte. Ltd. with 0.0002%. ASW and TTT have no relationship that would qualify as related persons under the criteria of the SEC and the Stock Exchange of Thailand. The conditions precedent under the share purchase agreement were fully completed on September 25, 2569, allowing the WE23 share sale transaction to proceed under the agreed conditions.

Impact on assets 1

Real Estate▲ · 1 stocks
Assetwise Public Company Limited
ASW
▲ PositiveCapitalrelevance

ASW sells a 49% stake in WE23 for 24.49 million baht, above net book value and par, opening joint investment with an international partner.

Off-coverage companies 2

Tokyo Tatemono (Thailand) Co., Ltd.Private▲ Positive
Capitalrelevance

TTT acquires a 49% stake in WE23 for 24.49 million baht, forming a joint venture with ASW.

Wise Asset 23 Co., Ltd.Private± Mixed
Capitalrelevance

WE23 ceases to be an ASW subsidiary and becomes a joint venture after the 49% stake sale to TTT.

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