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Published on November 14, 2007

The Wongsawat family, Wyncoast Industrial Park's major shareholder, has been involved in a big-lots sale of 35.18 per cent of the company's paid-up capital.

The Stock Exchange of Thailand (SET) said 172.5 million shares were sold at Bt1.02 apiece for a total of Bt175.95 million.

Major shareholder Chinnicha Wongsawat, who owned 16.79 per cent of the company as of April 3, is also running in the general election for an MP seat in Chiang Mai. She is a niece of ousted prime minister Thaksin Shinawatra.

The SET yesterday put a "halt" sign on Wyncoast, as big lots are crucial information that may affect a company's share trading.

The SET said it had yet to be informed about the big lots. The "halt" sign will remain until the company informs the public about the big lots, it said.

Trading in Wyncoast shares was halted at 4.20pm yesterday, when the last price was Bt1.25, up 34.41 per cent from Monday's closing price.

As of April 3, Wyncoast's major shareholders included Chayapa Wongsawat (20.25 per cent), Yoschanant Wongsawat (19.31 per cent) and Chinnicha (16.79 per cent). The total shareholding of the Wongsawat family in Wyncoast was reported as 56.35 per cent.

After the big-lot sale, the Wongsawat family's shareholding decreased to 21.17 per cent of paid-up capital of Bt490.32 million at par value of Bt1 per share.

Wyncoast was previously named Capetronic International (Thailand), with registered capital of Bt20.16 billion and paid-up capital of Bt14 billion.

In May 2004, Capetronic saw its shareholders change to the Wongsawat family and its allies. The company was then a go-kart and bicycle assembler for LA Bicycle (Thailand). In 2005, Wyncoast started a rental business for duty-free areas.

Siriporn Chanjindamanee

 The Nation