Thai property developer Prinsiri swaps share with KPN

Thai property developer Prinsiri swaps share with KPN

Visual from Prinsiri website

Board of directors of Prinsiri, one of Thailand’s listed property developer, has approved the acquisition of majority stake in KPN Holding through a combination of share swaps and cash payment for 4.032 billion baht (around $120 million).

Prinsiri will propose it in an extraordinary shareholders’ meeting for approval on August 28, according to its report to the Stock Exchange of Thailand.

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