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Thai-Malaysian Auto Parts Maker's IPO Aims to Raise 300-400 Million Baht.

Bangkok Post (Bangkok, Thailand)

| September 06, 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: Santan Santivimolnat

Sep. 6--Aapico Hitech Co, a major automotive parts maker, is aiming to raise 300-400 million baht from its initial public offering, scheduled for next month.

According to Kamtorn Sila-on, the vice-president of Asset Plus Securities, Aapico's financial adviser, the proceeds from the offering will be used to partly finance Aapico's business expansion plans.

Yeap Swee Chuan, Aapico's managing director, said Aapico needed 500-600 million baht to fund its plant expansion in Ayutthaya.

It also plans to build a new plant in the Eastern Seaboard area, and is negotiating a joint venture with Germany's Siemens VDO ...

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Source: HighBeam Research, Thai-Malaysian Auto Parts Maker's IPO Aims to Raise 300-400 Million...

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