SABUY Declared Great Deal of Joint Venture with COM7 Approaching IT Business and Holding 25% Shares of TSR Expand for the inclusive credit business, Invest in technology business and call center, Serve human resource recruiting service and leading business media, Continue SABUYVERSE domain inclusively
SABUY actively expands the business and continues the growth into the SABUYVERSE eco System steadily and fully by declaring the joint venture with COM7, the big guy of the mobile phone retail domain to extend the network of retail shops throughout Thailand, and holding the shares of TSR and TSRL to enlarge the ports for more credits, hire-purchase, and microcredits in Thailand via the sales teams and call center. Besides, SABUY holds the shares of isoftel, a technology company that invents the telephony and Call Center software, to expand the business and provide the comprehensive human resource management service by SKM and SKV, as well as to join with the leading business media, Marketingoops.
Mr. Chookiat Rujanapornpaje, the Chief Executive Officer of SABUY TECHNOLOGY Public Co., Ltd. said, “The company directors approved the negotiation with the shareholders and executives of Thiensurat Public Co., Ltd. (TSR) and Com7 Public Co., Ltd. to allow SABUY to hold the 24.90% of shares or 136,900,000 shares in TSR and 30% of shares or 8,570,243 shares in TSRL. The company will pay the newly issued ordinary shares not exceeding 81,503,011 THB. and will hold the shares at 40% or 20,000 shares in DOU7, which is a subsidiary of COM7. The company shall pay the compensation to COM7 not exceeding 1,360,000,000 THB. (“DOU7 transaction”).”
“SABUY invests in the ordinary shares of TSR not exceeding 136,900,000 shares or 24.90% of Thiensurat Public Co., Ltd. (“TSR”) by Mr. Werawat Changyoo, Ms. Savita Changyoo, Mr. Ekarat Changyoo, Ms. Thienvannee Changyoo, and BETTER DREAMS Co., Ltd. (hereinafter is called “Changyoo Group”). TSR manufactures and distributes the water purifier via direct sale. The company shall pay the compensation not exceeding 533,910,000 THB. to Changyoo Group (“TSR transaction”).”
“SABUY expands the credit business and will buy the shares at 24.90% of Thiensurat Public Co., Ltd. from Changyoo Group, and the newly issued at 30% of the subsidiary, which is Thiensurat Leasing Co., Ltd. (TSRL) to start the personal credit loan business and car registration loan under the brand “PHON SABUY” that would upgrade the credit loan port of SABUY inclusively, and expands the customers base and cross-sell of SABUY’s services e.g. life insurance, insurance, etc. Meanwhile, the company will leverage the installment payment of the electrical appliance distribution business of TSRL to expand our services to SABUY’s customers.”
“At the same time, the investment in DOU7, which is the subsidiary of COM7 is the business expansion to extend SABUYVERSE ecosystem to the largest IT and mobile phone retail network in Thailand. The turnover of the IT retail business and COM7 & DOU7 is satisfactory with high and continuing profits so it will be instantly beneficial to SABUY business. We expect that the joint venture with COM7 is the beginning of business cooperation to construct the growth of COM7 and SABUY. Moreover, SABUY approved the sale of 48,571,428 newly issued shares to COM7 at 28 THB per share, which is 1,360,000,000 THB in total. In the meantime, COM7 agrees to buy 48,571,428 newly issued shares of SABUY at 28 THB per share, which is 1,360,000,000 THB in total. At the same time, Changyoo Group, a majority of the shareholders of TSR, will buy 19,068,212 newly issued shares of SABUY at 28 THB per share, which is 533,909,936 THB in total. As a result, SABUY will earn 1,893,909,920 THB from this fundraising by selling the share at 28 THB per share, which is higher than the weighted average price of 15 working days (4 to 28 April 2022), which was 27.71 THB.”
“Besides, SABUY also expands the call-center technology business by investing in Isoftel (Thailand) Co., Ltd. (“iSoftel”), which invents the telephony and call-center software with a budget of 120,048,000 million THB, and purchasing the ordinary shares not exceeding 25,010 shares or 25.01% in iSoftel to further the sale and widen the customer service system within SABUY ecosystem that is growing constantly.”
“In addition, SABUY expands the business to offer the inclusive human resources management service by investing in the ordinary shares of S.K. Management & Supply Co., Ltd. (“SKM”) not exceeding 24,000 shares or 80.0% by Mr. Ekaphong Chotikmas, and investing in SKV Unity Supply Co., Ltd. (“SKV”) not exceeding 8,000 shares or 80.0% by Mr. Wisthisit Yodpanya. SABUY will pay the total compensation not exceeding 48,000,000 THB to Mr. Ekaphong Chotikmas (“SKM and SKV transaction”).”
“Lately, SABUY develop the cooperation by joining with the leading business online media who is the owner of www.marketingoops.com in the name of Oops Network Co. Ltd., the top media in the digital business, tech and marketing to provide knowledge about the business operation and new marketing via the various forms of creative content, such as the article, graphic video, podcast, seminar, and events that are co-organized with the major exclusive partners, i.e. Facebook, LINE and TikTok. Further, Redhouse Digital company, which is the associated company under Oops Network, offers strategic services and solutions for digital marketing to the leading Thai and international brands. With this great opportunity to become a business partner, SABUY is confident that it would be a great support for SABUY businesses efficiently and strengthen the SABUYVERSE ecosystem in a way”