Open Offer22 Jun 2026, 08:40 pm
Polyplex Subsidiary PTL Faces Tender Offer for All Shares
AI Summary
Polyplex Corporation Ltd. announced that its step-down subsidiary, Polyplex (Thailand) Public Company Limited (PTL), has received a tender offer from AGPH (Thailand) Ltd. to acquire all of PTL's ordinary shares. The tender offer, valued at THB 13,500,000,000 (approximately ₹300 crore based on current exchange rates), aims to acquire 100% of PTL's issued ordinary shares at an expected price of THB 15.00 per share. AGPH (Thailand) Ltd. is a wholly-owned subsidiary of AGP Holdco Limited, which already holds a significant stake (24.28%) in Polyplex Corporation Ltd. The official submission of the tender offer is expected by June 29, 2026. This development could lead to a change in control of PTL.
Key Highlights
- Step-down subsidiary PTL is subject to a tender offer for all its shares.
- The offer is from AGPH (Thailand) Ltd. for THB 13.5 billion.
- The offer targets 100% of PTL's ordinary shares at THB 15.00 each.
- AGPH (Thailand) is a subsidiary of a company holding 24.28% in Polyplex Corp.
- This may result in the delisting or acquisition of PTL.
Price Impact
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