Thai Tycoon Charoen transfers BJC-AWC-TGH shares to 5 heirs equally

Thai business magnate Charoen Sirivadhanabhakdi has initiated a major shareholding restructuring across his group’s core companies—Berli Jucker Plc (BJC), Asset World Corp Plc (AWC), and Thai Group Holdings Plc (TGH)—by transferring his entire holdings through Sattha Sub 9 Co., Ltd. equally to his five children.

The restructuring, disclosed to the Stock Exchange of Thailand (SET) on May 26, confirms that Charoen’s privately held Sattha Sub 9, which indirectly controls the three listed companies, has redistributed its shareholdings among his five heirs in equal portions.

The companies clarified that no single family member holds a significant controlling stake in Sattha Sub 9, which remains the principal shareholder under the chain principle. As a result, the share transfers do not constitute a takeover under Thai capital market rules, and thus do not trigger a mandatory tender offer requirement under SEC regulation No. Tor Jor 12/2554.

The firms emphasized that this internal restructuring has no impact on business operations, management structures, board composition, or executive leadership.

The move is seen as part of a long-term succession plan by Charoen to pass on his business empire in a structured and balanced manner to the next generation.