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Family's Holdings in Thai Petrochemicals Firm to Fall to 6 Percent.
Byline: Busrin Treerapongpichit
Mar. 4--The TPI shareholding of Prachai Leophairatana and his family would be diluted to 6 percent from 15.27 percent under a debt restructuring plan for the petrochemicals company scheduled to be completed by the end of this month, according to Siri Jirapongphan, a member of the planning team.
Approval for the plan is being sought from creditors before it goes before the Central Bankruptcy Court in April.
The plan includes a capital reduction, a new share issue, debt-to-equity conversion and the seeking of new strategic partners.
Once the plan is completed, the combined stake held by Mr Prachai, his ...
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Source: HighBeam Research, Family's Holdings in Thai Petrochemicals Firm to Fall to 6 Percent.