Keppel Corporation has, through its wholly-owned subsidiary, Apsilon Ventures Pte Ltd, divested 28.44% of its stake in Thai-listed SVOA Public Company Limited for 605.8 million baht ($23.4 million). The market value represented by the shares that were sold was 535.9 million baht as at July 12.
The stake was divested to Sophon Intanate (3.45%), Kulapa Intanate (3.5%), Pilada Intanate (3.55%), Chao Intanate (3.6%) and Prasit Kanchanasakdichai (14.34%).
Following the divestment, Apsilon’s interest in SVOA fell to 3.5% from 31.94% previously. Accordingly, SVOA ceased to become an associate company of Keppel.
The divestment is not expected to have any material impact on Keppel’s net tangible assets per share or earnings per share for the current financial year.
Shares in Keppel Corp closed flat at $6.53 on July 12.
