KUALA LUMPUR: CTOS Digital Bhd has raised its stake in Thailand-based associate firm Business Online Public Company Ltd (BOL) in a RM26.8mil deal.
CTOS Digital, in a filing with Bursa Malaysia today, said it bought an additional 21.74 million shares in BOL via a direct business transfer on the Thai stock exchange.
The transaction increased CTOS Digital’s stake in BOL from 20% to 22.65%.
“BOL continues to exceed our expectations and we are very pleased with the opportunity to increase our stake.” CTOS Digital Group Chief Executive Officer Dennis Martin said in a press statement.
BOL is the largest company information bureau in Thailand, with 59% market share in terms of revenue for the financial year ended Dec 31, 2020.
BOL has an extensive database of business information online on over 1.6…
