TTT+Partners is pleased to announce its representation of Mr. Frank Fung Kuen Leung in his voluntary partial tender offer to acquire up to 15.00% of the ordinary shares of Noble Development PCL (SET: NOBLE) at an offer price of THB 2.32 per share, with an aggregate offer value of THB 476.5 million (~USD 15.2 million).
The tender offer successfully closed on 20 January 2026. Upon completion, Mr. Leung increased his equity stake in NOBLE from 19.46% to 33.30%, reflecting his long-term investment conviction in Thailand’s property development sector and the strategic use of Thailand’s partial tender offer regime.
Our team provided comprehensive legal advice throughout the transaction, including the structuring and implementation of the voluntary partial tender offer, compliance with applicable capital markets and public takeover regulations, and advice on the client’s financing arrangements. The transaction highlights our firm’s strong track record in advising on one of the relatively few voluntary partial tender offers involving SET-listed companies under Thai securities laws.
The TTT+Partners team was led by Veeranuch Thammavaranucupt, James Lawden, Arnut Pongprueksa, and Pitchaya Kittiwittayakul, with support from Maythawi Boonyapinyo, Sahatsawat Satpretpry, Supitchaya Chanpal, and Veerapattra Mangmee.
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