NEX Point (BKK:NEX) has received shareholders' approval for the acquisition of a 100% stake in Thai EV, according to a Monday filing to the Thai stock exchange.
Under the transaction, NEX will acquire 13 million shares in Thai EV for 150 million baht.
NEX will settle the consideration by issuing up to 208.27 million new shares at an offering price of 0.72 baht per share.
Upon completion of the transaction, Thai EV will become a subsidiary of NEX.
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