Thai-based conglomerate Reignwood International Investment (Group) Company Limited, which is founded in 1984 by Thai-Chinese businessman Chanchai Ruayrungruang, has continued to pledge shares of oil and gas company PT Energi Mega Persada Tbk (ENRG).
After it pledged 6.39 billion shares or nearly 16% of total equity of ENRG to The Siam Commercial Bank Public Company Limited, Reignwood again has pledged 28 million shares to the bank, boosting the total shares pledged to 6.44 billion shares.
However, there is no clarity from Reignwood about the pledge purpose. Reignwood manages four business sectors such as consumer goods, modern services industry, sport, art, and culture, investment and financial services. Red Bull Vitamin Drink Company Limited in China is one of companies owned by Reignwood Group.
Disclosure: No position at the stock mentioned above.
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