Posted on 28 Mar 2008
Mill Con Steel Industries PCL to Issue New Shares; Acquire Shares of Burapa Steel
Mill Con Steel Industries PCL announced that it will issue
173 million new shares at the price of THB 5 per share. The issuance is to
finance stock dividend payment and working capital requirement, to raise fund
through private placement, and to reserve for share swap. The Company will pay
out 40 million new share as stock dividend at the ratio of one new share in
exchange of 10 holding shares. It also initiates the share swap at the ratio of
one new share of the Company for one share of Burapa Steel Industries Company
Limited (BRP) for the amount of not more than 25,862,251 shares. The remaining
shares will be sold under private placement to raise THB 200 million financing the
acquisition of BRP paid to Thai Capital Corporation. The Company therefore will
acquire 65,862,251 shares of BRP, equivalent to 85.10% stake, and will assume
the liabilities of guarantor for BRP in replace of Thai Capital Corporation.
