Finansa Public Company Limited (SET:FNS) made an offer to acquire remaining 81.201% stake in M.K. Real Estate Development Public Company Limited (SET : MK) from group of seller for THB 2.7 billion on September 25, 2020. Under the terms, 886.1 million shares will be acquired at a price of THB 3.1 per share. Also 6.5 million shares may be increased resulting from the exercise of the warrant of MK Real Estate under the employee stock option plan. The transaction will be funded from cash flows from operations and/or credit line from financial institutions. Post the completion of the transaction, M.K. Real Estate Development will operate as a subsidiary of Finansa. M.K. Real Estate will not be delisted as a part of the transaction.

The transaction is subject to approval by shareholders of Finansa. The transaction has been approved by the Board of Finansa on September 25, 2020. As on November 10, 2020, the transaction is approved by the shareholders of Finansa Public Company Limited. As on December 2, 2020, The board of directors of M.K. Real Estate Development Public Company Limited has consider the tender offer for the securities of the tender offeror and the shareholder advisor's opinion reports that shows the fair value of the business is in the range of THB 5.15 to THB 9.5 per share, which is higher than offer price. The board of directors of M.K. Real Estate Development Public Company Limited recommends its shareholders to reject the offer as the price of the offer is not appropriate. The transaction is expected to close within the year 2020. The tender offer period will be from November 16 to December 23, 2020. I V Global Securities Public Company Limited acted as financial advisor to Finansa in the transaction. S 14 Advisory Company Limited was hired as financial advisor to the shareholders of M.K. Real Estate Development Public Company Limited.

Finansa Public Company Limited (SET:FNS) completed the acquisition of additional 7.74% stake in M.K. Real Estate Development Public Company Limited (SET : MK) from group of seller for THB 260 million on December 23, 2020. 84.46 million shares of M.K. Real Estate Development Public Company Limited tendered at the end of tender offer period December 23, 2020.