Thai President Foods (SET:TFMAMA) received board approval to invest 200 million baht through the subscription of 2 million newly issued ordinary shares in E-Commerce Digital AI Thai Holding, according to a Friday filing with the Thai stock exchange.

Under the deal, the food manufacturer will acquire the shares at 100 baht apiece, securing a 4.94% stake in the digital company.

The investment, which is expected to be completed in September, will help the food manufacturer expand its digital technology capabilities and create business synergies.

Thai President Foods said the investment will facilitate cooperation in digital marketing, e-commerce, and shared services, while enabling the exchange of technology, knowledge, and resources across the group.