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Bangkok Land seeks funds for expansion.
Bangkok Post (Bangkok, Thailand)
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April 04, 2005 |
COPYRIGHT 2005 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
Apr. 4--The board of listed developer Bangkok Land Plc has approved a plan for the company to issue 8.15 billion new shares to boost its registered capital to 20.58 billion baht, according to a statement issued by the company to the Stock Exchange of Thailand.
Proceeds from the recapitalisation are to be used to repay debts, serve as working capital and fund business expansion.
Of the total new shares, 5.15 billion shares will be offered at the price of 0.68 baht a share to shareholders on record as of April 18 at the ratio of one new share for every 2.37 shares held.
Another one billion new shares will be offered to McCarthy Ventures (BVI) Ltd. ...
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Source: HighBeam Research, Bangkok Land seeks funds for expansion.