PTT Global Chemical Public Company Limited (SET:PTTGC) made a tender offer to acquire an additional 16.24% stake in Vinythai Public Company Limited (SET:VNT) from a group of shareholders for THB 7.5 billion on March 18, 2021. As reported, PTT Global Chemical Public Company will offer to purchase 192.5 million Vinythai's ordinary shares from all shareholders at the offering price of THB 39 per share in cash. AGC Inc. has informed that it will not tender any of its 696.7 million shares, representing 58.78% stake in Vinythai in such tender offer by Global Chemical Public Company. The source of funds of the Offeror to conduct the Tender Offer is from internal cash of the Offeror. Once the tender offer and delisting of shares are successful, Vinythai will amalgamate with AGC Chemicals (Thailand) Co., Ltd., a subsidiary of AGC Inc., subject to the relevant conditions being fulfilled.

The offer will commence after the approvals at the Annual General Meeting of Vinythai Public Company Limited shareholders of 2021 for delisting of Vinythai Public Company's shares from the Stock Exchange of Thailand, the SET and the relevant authorities and contract parties (if any) approve and/or waive such delisting of securities and the approvals in connection with the trade competition have been granted by the competition authorities in the relevant countries. As of April 27, 2021, shareholders of Vinythai approved the delisting offer. As of December 7, 2021, PTTGC stated that all approvals from competition authorities in Thailand, Vietnam, Taiwan, and South Korea with respect to the Delisting Tender Offer have been obtained. The transaction has obtained an approval from the SET on delisting. The Tender Offer period will be a total of 45 business days, from December 22, 2021 to February 25, 2022. As on January 4, 2022, The Board of Directors has advised the shareholders to accept the delisting offer as per the opinion from independent financial advisor. After the completion of the Tender Offer, which will be completed by February 25, 2022, the SET will proceed with the delisting of the Business from the SET, which is expected to be completed in March 2022. On February 22, 2022, Vinythai stated that last day for accept tender offer for public is February 23 2022 that's is due to settlement period which is t+2.

The Quant Group acted as financial advisor while Asia Plus Advisory Company Ltd. acted as independent financial advisor and will provide an opinion of the offer to PTT Global Chemical Public Company. KGI Securities (Thailand) Public Company Limited (SET:KGI) acted as financial advisor to Vinythai Public Company Limited. Linklaters (Thailand) Ltd acted as legal advisor to PTT Global Chemical Public Company Limited. TISCO Securities Company Limited acted as tender offer anent to PTT Global Chemical Public Company Limited. Thailand Securities Depository Co., Ltd. acted as registrar to PTT Global Chemical Public Company Limited. TISCO Securities Co., Ltd acted as Transfer agent.

PTT Global Chemical Public Company Limited (SET:PTTGC) completed the acquisition of additional 12.7% stake in Vinythai Public Company Limited (SET:VNT) from a group of shareholders for THB 5.9 billion on February 25, 2022