Successmore Being Public Company Limited (SET:SCM) agreed to acquire 25% stake in Power Agrotech (Thailand) Company from Nattaraphon Pengyeeson, Araya Pengyeeson and Taweepong Sudtampun for THB million on August 7, 2023. Successmore Being will purchase 16,667 shares translating to 25% and post the transaction Nattaraphon Pengyeeson stake will reduce to 57% from 76% , Araya Pengyeeson stake will reduce to 10.50% from 14% and Taweepong Sudtampun stake will reduce t o 7.5% from 10% in Power Agrotech. Successmore Being will also invest THB 1 million and provide financial assistance of THB 13 million to Power Agrotech.

Successmore Being will finance the transaction from the working capital of the company. Power Agrotech reported total assets of THB 6.38 million, shareholders equity of THB 6.26 million, total revenue of THB 92.39 million and net profit of THB 0.39 million in 2022. The transaction is expected to close within quarter 3 of 2023.