Aurora Design to Acquire Charity Services Firm; Rejigs Leadership Structure
Aurora Design (BKK:AURA) will acquire a 99.98% stake in Aurora Social Business for 999,800 baht, making it a subsidiary, according to a Thursday filing with the Stock Exchange of Thailand.Aurora Social Business was incorporated in May with registered capital of 1 million baht to support the operations of charitable organizations and other public-benefit entities, the filing said.Aurora Design will also establish Aurora Integrated, a new subsidiary with registered capital of 40 million baht, to support the group's operations and future growth.Separately, Aurora Design announced an organizational restructuring, with the executive committee overseeing a group chief executive officer and a chief executive officer.Aniwat Srirungthum, previously CEO, will become group CEO, while Deputy CEO Subhasiddhi Rakkasikorn will become CEO, effective immediately, the filing stated.Shares of Aurora Design fell by over 2% in recent trade.
