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SEC orders CHO to review software purchase transaction

SEC orders CHO to review software purchase transaction

MGR Online•Economy•24m ago

Reader Briefing

The SEC has ordered CHO to disclose information and review the reasonableness of a software purchase valued at 1,400 million baht.

  • •The SEC ordered CHO to review a software purchase transaction by August 27, 2026.
  • •CHO plans to issue 190.47 million shares at 7.35 baht per share to fund the 1,400 million baht purchase.
  • •An Independent Financial Advisor (IFA) valued the software at only 131.11–146.46 million baht.
  • •CHO shares have been under SP and CB signs since March 4, 2026.

Overview

  • •The Securities and Exchange Commission (SEC) ordered CHO to disclose information and review the reasonableness of a software purchase transaction by August 27, 2026.
  • •CHO scheduled an extraordinary general meeting of shareholders on August 28, 2026, to approve the allocation of 190.47 million shares at 7.35 baht per share to a limited group of persons.
  • •An Independent Financial Advisor (IFA) estimated the fair value of the software to be between 131.11 and 146.46 million baht, significantly lower than the 1,400 million baht purchase price.
  • •CHO shares have been suspended from trading under the SP sign since March 4, 2026, due to the failure to submit the 2025 financial statements on time.
  • •CHO is marked with a CB sign because shareholders' equity is lower than the registered capital.
  • •CHO reported a total revenue of 50.82 million baht and a loss of 141.46 million baht for the first 6 months of 2026, with accumulated losses totaling 4,124 million baht.
  • •The last closing price of CHO shares fell to 2 satang.
  • •The author notes that the software purchase at an inflated price reflects a lack of transparency in the company's management.

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Key Entities

Organization

CHO(บริษัท ช.ทวี จำกัด (มหาชน))
A company listed on the MAI market facing severe financial problems and transparency issues regarding a software purchase.
Securities and Exchange Commission(สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์)ℹ️
The regulatory body that ordered CHO to review the reasonableness of its software acquisition.
MAI Market(ตลาด MAI)
The stock market where CHO is a listed company.

Person

Sunan Srichantra(สุนันท์ ศรีจันทรา)
The author of the article.