SET-listed MBK Plc (MBK) has approved the sale of a 29.86% stake in Royal Orchid Hotel Thailand Plc (ROH), owned by MBK's wholly owned subsidiary MBK Hotels and Resorts Co Ltd (MBK-HR), with a net sale value worth 1.14 billion baht.
Grande Asset Hotels and Property Plc is identified as the buyer of the ROH shares.
MBK holds 99.99% of MBK-HR's paid-up capital.
"The company will increase liquidity to support its core business growth," said MBK in its statement filed to the Stock Exchange of Thailand. "The transaction size is calculated by the criterion net of total return value at 2.4172%, calculated from financial statements ending on March 31, 2018."
The number of disposed shares totalled 27.99 million ordinary shares of MBK-HR's paid-up capital.
MBK shares closed yesterday on the SET at 23.20 baht, up one baht, in trade worth 63.3 million baht.
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