Asia
Itthirit Nice Gets Board Nod to Dispose of Common Shares in Subsidiary Evonic; Shares Down 5%
Itthirit Nice (BKK:ITTHI) has received board approval to dispose of all common shares held by the company in its subsidiary Evonic for 591,600 baht, according to a Thursday filing to the Thai stock exchange.The electrical and electronic appliances trader's shares were down nearly 5% in recent trade.The company's decision to sell its stake to Thanaseth Akkrabunyapath, who is related to the company, is based on Evonic's operational performance not meeting targets and objectives.The transaction will not have a material impact on the company's operations or financial position and will reduce its financial burden, the filing said.
BKK:ITTHI
