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New Shares in Thai Developer Bangkok Land to Be Sold to Bondholders.
Dec. 3--Bangkok Land, a listed large-scale developer, will increase its capital by 3.31 billion baht by selling its remaining 1.654 billion new shares to existing bondholders and a new partner.
At its board meeting yesterday, the company agreed to offer 1.5 billion shares, which are the remaining shares from the allotment to investors last month, to the noteholders of its wholly-owned subsidiary Bangkok Land (Cayman Islands) Ltd.
Bangkok Land (Cayman Islands) issued exchangeable notes worth 400 million Swiss francs in 1993 and notes worth US$150 million in 1994, with BLAND acting as the guarantor. It later defaulted on the notes and the exchangeable ...
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Source: HighBeam Research, New Shares in Thai Developer Bangkok Land to Be Sold to Bondholders.