Bangchak Corporation Public Company Limited (BCP) has unveiled a major restructuring initiative aimed at streamlining operations and enhancing efficiency within the Bangchak Group. The company’s Board of Directors, at its Meeting No. 3/2025, approved a tender offer to acquire all minority-held securities of Bangchak Sriracha Public Company Limited (BSRC), paving the way for its delisting from the Stock Exchange of Thailand (SET). The transaction will be executed through a share swap, allowing BSRC shareholders to exchange their holdings for newly issued ordinary shares of BCP at a ratio of 1 BCP share per 6.50 BSRC shares.
The total number of newly issued BCP shares for this transaction will not exceed 97,209,185 shares, with no cash payment involved. Through this restructuring, BCP aims to clarify its business structure, optimise its shareholding composition, and eliminate redundant operational processes, ultimately improving overall flexibility and efficiency.
Enhancing Competitiveness and Financial Strength
Mr. Chaiwat Kovavisarach, Chief Executive Officer of Bangchak Group and President of BCP, emphasised the strategic benefits of the restructuring, stating, “This plan will enhance Bangchak Group’s competitive capabilities and operational efficiency, enabling us to seize business opportunities more effectively while strengthening our financial performance. The restructuring will simplify Bangchak Group’s business structure and provide BSRC minority shareholders with an opportunity to hold shares in BCP, a larger and financially robust corporation.”
BCP has consistently achieved an EBITDA of approximately THB 40 billion, with total assets exceeding THB 300 billion. The restructuring aligns with the company’s long-term growth strategy, "Bangchak 100X," which aims to achieve an EBITDA of THB 100 billion by 2030 and establish Bangchak as a 100-year sustainable organisation serving Thai society. BSRC shareholders will retain indirect ownership of BSRC while benefiting from BCP’s higher liquidity and market capitalisation.
Regulatory Approvals and Timeline
The restructuring, including the tender offer and BSRC’s delisting from the SET, remains subject to shareholder approvals. BCP will seek approval from its Annual General Meeting of Shareholders on 11 April 2025, while BSRC’s Annual General Meeting is scheduled for 9 April 2025.
Further details on the restructuring plan and share swap can be accessed via the official websites of Bangchak (www.bangchak.co.th), BSRC (www.bsrc.co.th), or the Stock Exchange of Thailand (www.set.or.th).
