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Thai Card-Card Company's IPO Moves Ahead on Schedule.

Bangkok Post (Bangkok, Thailand)

| October 02, 2002 | COPYRIGHT 2002 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Darana Chudasri

Oct. 2--Krung Thai Card Plc (KTC) will not postpone its planned initial public offering despite the sluggish conditions in the capital market, said Niwatt Chittalarn, the managing director.

Now wholly-owned by Krung Thai Bank, KTC plans to increase its registered capital to one billion baht from 50 million baht by issuing 95 million new ordinary shares with a par value of 10 baht.

Of the new shares, 44 million will be sold to the bank and 51 million will be sold to investors in an initial public offering, with Merrill Lynch Phatra Securities the financial adviser.

After the capital increase, the bank's stake will ...

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