CTOS Digital raises stake in Thailand’s BOL to 24.825%

KUALA LUMPUR (March 9): CTOS Digital Bhd has increased its associate stake in Thailand-based Business Online Public Company Ltd (BOL) to 24.825% from 22.65% previously, as the group continues to strengthen its presence in Thailand as part of its regional expansion strategy. 

The credit-reporting agency announced its acquisition of 17.8 million shares via a direct business transaction on the Thai stock exchange, representing a 2.175% stake in BOL for a purchase consideration of 205.2 million baht (equivalent to RM26.2 million). 

In a statement on Wednesday (March 9), it said the acquisition will be fully funded by proceeds raised from the recently completed private placement. 

“The increase in shareholding comes after earlier acquisitions of 2.650% shareholding back in August 2021, as well as the group’s initial 20.000% stake acquisition in October 2020,” said CTOS…