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Ticon raises capital to facilitate growth.
(From Thai Press Reports)
Section: Stocks - Ticon approved the issuance of 50m preferred shares at Bt9.25 to be sold to an institutional investors, Thailand equity fund (Lombard sponsored, Managed by MFC, investors such as Calper, IFC, the Thai MOF, etc...).
Management noted that a formal announcement of the plans for the proceeds (Bt462.5m) would be forthcoming upon receipt of the funds by Ticon.
The additional funds should facilitate greater expansion and to reduce their D/E ratio from 1.7x to 1.0x (Ticon management targets 1.5x for some reason). However, management stated that Ticon was not currently experiencing greater than expected growth. …
