RS stock rises over plans to acquire Unilever’s omni-channel

Shares of RS, one of Thailand’s leading media and entertainment firms, jumped more than 6 per cent on Monday following the plans to acquire Unilever’s omni-channel business, as well as its business direction plans in 2022. 

RS price peaked at 21.10 baht, up 6.57 per cent from its prior closing, then settling at 20.60 baht during the afternoon session.

The company clarified to the Stock Exchange of Thailand that it is “studying investments in new businesses for creating opportunities for growth,” in response to local media Kaohoon’s reports that RS is nearing a deal to buy Unilever’s omni-channel unit for 900 million baht.

“The company has strategies for Mergers and Acquisitions (M&A) and Joint Venture (JV),” the statement said. RS will inform the market accordingly for further details.

RS also held a press conference on its business direction in 2022 on Monday, stressing on plans to enhance growth of its entertainment business after the Covid-19 disruption subsides.

“If there is no lockdown and the pandemic is under control, I believe this year will be a golden year for RS,” said chief executive Surachai Chetchotisak. He expects revenue from all segments in 2022 to reach 5 billion baht. 

In light of the growth of blockchain technology, the company has launched Popcoin, a smart marketing platform designed to boost the value of content and entertainment businesses. 

According to the company, cryptocurrency Popcoin is set to enter Thai cryptocurrency exchange Bitkub by this month.

Surachai also said that RS has hemp-related products to be distributed as in the company’s commerce segment, which accounted for around 60 per cent of its business model. 

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