TRUE Acquires 70% of Philippine Loyalty Program Provider to Strengthen Digital Offerings
Investing in ZAPGROUP will strengthen TRUE’s digital offerings and to gain potential future return on investment
Investing in ZAPGROUP will strengthen TRUE’s digital offerings and to gain potential future return on investment
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True Corporation Public Company Limited (TRUE) announced that True Digital Group Company Limited, a wholly owned subsidiary of the company’s Group, has invested in ZAPGroup Inc. (ZAP), a company in the Republic of the Philippines which engaged in privilege and online-to-offline platforms, in the proportion of 70.00% of ZAP’s total issued shares for a consideration of USD4,781,961.11 or approximately Baht 162,793,736.656 (calculated from the Bank of Thailand’s exchange rate as at 29th September 2021, 1 USD = 34.0433 Baht). 
The objective of this investment is to strengthen the company’s digital offerings and to gain potential future return on investment. Consequently, ZAP became the company’s new subsidiary.