Thai developer Supalai PCL is extending the deadline for its 4.07 billion-baht bid for M.K. Real Estate Development PCL to Sept. 5 from Aug. 31.
The company launched a voluntary tender offer for all 992,010,177 ordinary shares in its fellow Thai development group for 4.10 baht per share, with the offer period starting July 25.
Supalai also extended the period for holders of M.K. Real Estate securities to cancel the intention to sell under the tender offer from Aug. 24 to Sept. 5. The company needs acceptances from shareholders representing at least 25% of M.K. Real Estate's total issued and paid-up shares.
As of Aug. 14, US$1 was equivalent to 33.29 baht.