Bangkok Land Public Company Limited announces an Equity Buyback for 1,737,440,105 shares, representing 10% for THB 2,085 million.
March 04, 2020 at 11:13 am
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Bangkok Land Public Company Limited (SET:BLAND) announces a share repurchase program. Under the program, the company will repurchase up to 1,737,440,105 shares, representing 10% of its issued share capital, for THB 2,085 million. The repurchase price will not be higher than the average closing price during 5 business days prior to each trading date plus 15% of such average closing price. The purpose of the program is to manage and maximize the utmost benefits of the company’s excess liquidity, increase the return of equity (ROE) and earnings per share (EPS) for the shareholders and show the sign of strong financial status of the company. The repurchased shares may be resold on the Stock Exchange of Thailand or offered for sale to the general public. The repurchase program is valid till September 18, 2020. As of February 3, 2020, the company had 17,374,401,054 shares in issue.
Bangkok Land Public Company Limited is a Thailand-based company engaged in real estate development, exhibition and convention, food and beverages and investment in hotels. The Company operates four business segments: real estate business segment, which involves the development of residential housings and commercial properties for sale including single houses, townhouses, condominiums, shop-houses and high rise commercial buildings; retail business segment, which is the operations of retail shops, food courts, fresh food markets and car parks; exhibition center business segment, which offers a full range of facilities and services for different kinds of activities, such as concerts, entertainment shows, parties, receptions and examinations, and other services segment, which is the fund raising for the Company by issuing foreign currency bonds to investors.
BANGKOK LAND PUBLIC COMPANY LIMITED 
