MINT Launches Share Buyback Program Valued at THB 500 Million
Minor International Public Company Limited (SET: MINT), a leading hospitality and leisure group, has officially initiated a share repurchase program for financial management purposes (Treasury Stock), following approval from its Board of Directors on November 28, 2025. MINT has strategically allocated a maximum budget of THB 500 million for this program.
This capital allocation is intended to buy back up to 23 million shares of the company, a volume that represents approximately 0.41% of the company’s total paid-up capital. The repurchase program is scheduled to run for a duration of six months, commencing on December 3, 2025, and concluding on June 2, 2026.
The company confirmed that the share acquisition method will be executed via automated order matching through the trading system of the Exchange, ensuring transparency and efficiency in the process. To safeguard the company’s financial interests and manage the process effectively, the pricing mechanism is strictly stipulated: the repurchase price is capped and cannot exceed 115% of the average closing price of the five consecutive Business days immediately preceding each repurchase date.
For reference, the average share price during the 30 days preceding the disclosure period, running from October 16 to November 27, 2025, was noted at THB 21.74 per share. This significant Investment by MINT in its own equity is a strategic move designed to manage excess liquidity while enhancing shareholder value.
Strategic Objectives and Financial Impact of the MINT Repurchase
MINT outlined three primary and interconnected reasons driving this share buyback Investment, all centered on prudent financial management and investor confidence. The first objective is the effective management of the company’s excess liquidity. By utilizing surplus cash to buy back shares, MINT is putting unproductive capital to work.
The second, and arguably most critical, goal is to enhance shareholder returns by increasing the Return on Equity (ROE) and the Earnings Per Share (EPS). Reducing the total number of outstanding shares ensures that the existing net profit is distributed over a smaller equity base, thereby automatically boosting these key per-share metrics, making the stock more attractive to the Finance community.
The final reason cited is the direct assurance of investor confidence, serving as a powerful signal in the SET that MINT possesses a strong, resilient financial position and remains highly confident in its future profitability and growth prospects. The expected impact on existing shareholders is unambiguously positive: they anticipate an inherent increase in their proportional ownership and consequently a higher ROE and EPS for the remaining shares.
Naturally, the execution of the program will result in a corresponding decrease in the company’s cash reserves and a reduction in the total shareholders’ equity. However, MINT affirmed that it possesses entirely sufficient financial resources and adequate liquidity to fund the entire repurchase program without impacting its ongoing Business operations or expansion plans, a claim strongly supported by the Group’s consolidated cash and cash equivalents, which stood at a robust THB 9,644 million as of September 30, 2025.
Post-Repurchase Resale Plan and Long-Term Investment Strategy
Following the successful completion of the six-month repurchase period, MINT has established a clear plan for managing the repurchased shares, known as Treasury Stock, which also serves a long-term Investment objective. The company anticipates reselling these shares back into the market, utilizing the same efficient automated order matching system employed during the acquisition phase.
This resale strategy is not immediate; the resale period is stipulated to begin only after a mandatory minimum holding period of three months has elapsed following the completion of the buyback program. Importantly, the entire resale process must be finalized within a generous window of three years from the completion date of the initial repurchase program.
This defined holding and resale strategy provides MINT with significant financial flexibility. It allows the company to realize potential capital gains if the share price appreciates after the buyback, effectively turning the repurchase into a strategic Finance play that can recoup the initial capital outlay or even generate profit.
Moreover, the timing flexibility for resale ensures that the company can return the shares to the market when conditions are optimal, minimizing disruption. This careful planning around acquisition and subsequent disposal underscores the financial sophistication of MINT’s approach, demonstrating that the share buyback is not merely a short-term liquidity management tactic but an integrated part of a broader, well-considered long-term capital management strategy designed to maximize return on equity for the benefit of all MINT shareholders.
Financial Analyst Commentary: Capital Structure Optimization and Sector Signals
The MINT share repurchase, though small at 0.41% of paid-up capital, carries significant signaling weight for both the SET and the Southeast Asian hospitality sector. For the SET, the action confirms that high-quality, cyclical stocks are shifting from a purely defensive, debt-reduction posture to an offensive, capital-optimization phase, marking a turning point in the post-pandemic Economic recovery.
The use of surplus cash (THB 9,644 million in cash reserves) for equity reduction is a classic Finance strategy designed to correct potential stock undervaluation by demonstrating management’s belief that the best return on capital currently available is investing in their own Business. This move is particularly critical for MINT, which has substantial international operations (hotels and restaurants), as it implicitly backs the positive medium-term outlook for global tourism and consumption—the bedrock of the company’s revenue stream.
Regionally, this buyback contrasts sharply with the strategy of some hospitality peers that are still prioritizing asset disposals or rights issues; MINT is instead increasing leverage efficiency by compressing the equity base. The three-year window for reselling the Treasury Stock provides MINT with a valuable financial tool—an embedded call option—allowing the company to re-issue shares at a higher future valuation to fund opportunistic M&A or growth projects without immediate equity dilution concerns, thereby showcasing expert-level Investment and capital management discipline within the highly cyclical leisure sector.
