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Thai Music Firm Sets IPO Price at 28 Baht.
Byline: Nuntawun Polkuamdee
May 9--Music giant RS Promotion has set a price of 28 baht per share for its upcoming initial public offering (IPO).
The company will issue 28 million shares with a par value of five baht. The subscription period begins on Monday through lead underwriter Asset Plus Securities and six co-underwriters.
Shares are expected to begin trading on the Stock Exchange of Thailand (SET) on May 22.
Kongkiat Opaswongkarn, Asset Plus chief executive, said the IPO price had been set based on RS Promotion's diminished cash flow and was comparable to other competitors in the market.
"We are confident that the issue ...
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