,CTOS Digital group chief executive officer Dennis Martin said: “BOL continues to exceed our expectations and we are very pleased with the opportunity to increase our stake.”
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KUALA LUMPUR: CTOS Digital Bhd has increased its stake in its Thailand-based associate Business Online Public Company Ltd (BOL) to 22.65%, from 20%.
In a statement, CTOS Digital said it had acquired 21.74 million shares in BOL via a direct business transfer on the Thai stock exchange, for 208.7 million baht (RM26.8mil).
The acquisition is not subject to approvals of CTOS Digital’s shareholders or regulatory authorities, according to the statement.
CTOS Digital group chief executive officer Dennis Martin said: “BOL continues to exceed our expectations and we are very pleased with the opportunity to increase our stake.”
BOL is the largest company information bureau in Thailand, with 59% market share in terms of revenue for the financial year ended Dec 31, 2020 according to IDC. BOL has an extensive database of business information online on over 1.6 million local businesses including Thailand’s financial institutions, corporates, small medium enterprises, and government agencies.
CTOS Digital has acquired a 4.6% minority stake in credit rating agency RAM Holdings Bhd for RM10.1mil, making its first post-listing acquisition
CTOS serves three distinct types of customers – key accounts, commercial and direct-to-consumer.