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Published on November 14, 2007

The move comes because its new major shareholder, Mauser Holding Asia, owns more than 90 per cent of the company, disqualifying it for listing.

Mauser Holding Asia made a tender offer for Pack Delta shares last year of Bt9 apiece and now owns 36.75 million shares, representing 91.89 per cent of total issued shares. This makes the company's shares lack liquidity, and the number of minority shareholders is below Stock Exchange of Thailand criteria. As a result, the company does not qualify for listing on the MAI.

The company will hold a shareholders' meeting on December 17 to ask for approval of the delisting.

Pack Delta was listed on the MAI on December 1, 2003, and offered a share price of Bt9 apiece during its initial public offering. However, the stock has not been active for the past six months.

Pack Delta closed yesterday at Bt8.55, up 29.55 per cent from Monday's close.

The Nation