Delta Electronics, Inc. Sold Fraction of Its Holdings in Delta Electronics (Thailand) Public Company Limited, with Current Stake Held 63.07%
TAIPEI, September 29th, 2023 – Delta Electronics, Inc. (later referred to as “DEI”) today announced the sale of a fraction of its stake in Delta Electronics (Thailand) Public Company Limited (later referred to as “Delta Thailand” or “DET”, a Thailand-listed company) via its subsidiary Delta International Holding Limited B.V. (“DIH”) in order to enhance its working capital for operations and business expansion. The total stake sold in the transaction was 89,232,800 shares with a price of THB 94.75 per share for a total amount of THB 8.45 billion (equivalent to approximately US$ 230 million). The aforementioned sold stake represented 0.72% of DET’s total number of issued and outstanding shares.
Prior to this transaction, DEI and its subsidiaries held 63.78% stake in DET’s total number of issued and outstanding shares. After completion of the transaction, the stake that DEI and its subsidiaries currently hold in DET is 63.07%.
DET is a strategically important subsidiary for DEI’s future development roadmap and ongoing global expansion plans. Moreover, DEI will also keep laying out its business development strategy for DET in order to continue expanding and cultivating the Thailand and Southeast Asian markets to generate substantial synergies for the entire enterprise.
DET, listed on the Stock Exchange of Thailand since 1995, is an electronics manufacturing company in Thailand focused on the production of switching power supplies, power systems, automotive electronics, and related products. The company has sales offices in South East Asia, India, Australia and Europe as well as manufacturing facilities in Thailand, India and Slovakia. In 2019, DET became a subsidiary of Delta Electronics, Inc.