Thoresen Thai Agencies is proposing to issue 865,403,531 new shares through this rights offering, at a ratio of 15 existing shares to six newly issued shares. The rights offering will deliver a minimum discount of 20% on TTA’s volume weighted average share price over the last 30 days prior to 6 January 2015.
Bangkok-based Thoresen Thai Agencies president and CEO Chalermchai Mahagitsiri said
“We would like to thank our shareholders for their trust and support in previous fundraising efforts, which enabled Thoresen Thai Agencies to improve and expand our businesses over the past two years. We have successfully turned the company around from a net loss of five billion baht to a net profit of one billion baht, and we are able to pay cash dividends for the first time in three years,”
Thoresen Thai Agencies desire to bolster core businesses and to take advantage of new investment opportunities while the world economy and capital markets are volatile.
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