Moon Inc. (1723) released a circular dated 10 February 2026, announcing a discloseable and connected transaction involving the purchase of tender offer securities issued by DV8 Public Company Limited in Thailand.
According to the circular, a wholly owned subsidiary of Moon Inc. (the Purchaser) and other consortium members launched a tender offer on 3 July 2025 to acquire all outstanding shares and warrants of DV8 (collectively referred to as the Tender Offer Securities). The Purchaser initially intended to hold approximately 19.09% of DV8’s share capital and had its allocation capped at that level. By the closing of the tender offer on 20 August 2025, 75% of the intended DV8 shares were accepted, resulting in the Purchaser’s final holding of about 188,961,300 shares, equivalent to 11.65% of DV8’s total issued and paid-up share capital at completion. The total consideration settled by Moon Inc. was approximately THB105.8 million.
The circular highlights that the transaction is categorized as both discloseable and connected under Hong Kong listing rules, as other participating tender offerors include 210K Capital and Sora Spiral, which are connected persons of Moon Inc. The main strategic objective is to leverage DV8’s extensive in-store audio advertising platform and retail channels, aiming to expand the distribution of Moon Inc. subsidiaries’ pre-paid SIM card and pre-paid Bitcoin card products in Thailand. The Independent Board Committee and an independent financial adviser concluded that the transaction’s terms are fair and reasonable and in the interests of shareholders.
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