Aurora Design to Acquire Charity Services Firm; Rejigs Leadership Structure

MT Newswires Live12:10

Aurora Design (BKK:AURA) will acquire a 99.98% stake in Aurora Social Business for 999,800 baht, making it a subsidiary, according to a Thursday filing with the Stock Exchange of Thailand.

Aurora Social Business was incorporated in May with registered capital of 1 million baht to support the operations of charitable organizations and other public-benefit entities, the filing said.

Aurora Design will also establish Aurora Integrated, a new subsidiary with registered capital of 40 million baht, to support the group's operations and future growth.

Separately, Aurora Design announced an organizational restructuring, with the executive committee overseeing a group chief executive officer and a chief executive officer.

Aniwat Srirungthum, previously CEO, will become group CEO, while Deputy CEO Subhasiddhi Rakkasikorn will become CEO, effective immediately, the filing stated.

Shares of Aurora Design fell by over 2% in recent trade.

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