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TPI Polene signs on agreement for US$180 million share sale.

Asia Africa Intelligence Wire

| March 13, 2003 | COPYRIGHT 2003 Financial Times Ltd. 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

(From fnWeb.com)

fnWEB - Bangkok - March 13, 2003 - Cement maker, TPI Polene Pcl, currently undergoing a US$950 million debt restructuring, says it has signed an agreement with its selling agents to offer additional shares to the public worth at least US$180 million.

TPI Polene plans to offer between 420 million and 750 million shares to the public at a price of 17 baht ($1=THB42.67) a share, the company said in a statement.

TPI Polene says it plans to put the money raised toward repaying its debt and will use any excess funds to ...

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