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Thai developer Natural Park swaps shares with City Realty.

Bangkok Post (Bangkok, Thailand)

| December 01, 2004 | COPYRIGHT 2004 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: Ploy C.D. Chudasri

Dec. 1--Troubled property developer Natural Park yesterday announced a share swap and capital restructuring, potentially giving majority control to City Realty Co, a company owned by Chalee Sophonpanich, whose family is the major shareholder of Bangkok Bank.

N-Park directors on Monday approved the issue of 9.6 billion new shares, raising capital from 80.57 billion baht to 176.5 billion.

A total of 7.6 billion new shares will be swapped for 135.9 million shares of City Realty, giving City Realty a 48.54 percent holding in N-Park.

City Realty will also subscribe to two billion baht worth of two-year convertible ...

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Source: HighBeam Research, Thai developer Natural Park swaps shares with City Realty.