กรุงเทพฯ--21 ต.ค.--TUF
The private placement of new TUF common shares was well received. Many institutional and high net worth investors showed strong interest by taking up all the shares. The share placement price was set at 53 baht with booking equivalent to two times of shares available for the issue, demonstrating investors’ trust in the company.
Upon the private placement of 29 million new common shares this week, Mr. Thiraphong Chansiri, president of Thai Union Frozen Products PCL., commented, ”The book-building period for the share placement was between October 18th and 20th where institutional and high net worth investors showed great interest. The final price was set at 53 baht per share and the booking was twice of the shares available. It is considered another success for TUF after the overly-subscribed rights offering of 44.16 million new shares (to existing shareholders) was just completed last week. Proceeds from these issues will be used partly to finance the acquisition of MW Brands, help save interest expenses which would otherwise be incurred with all debt financing. They will also reduce the company’s financial burden and improve liquidity. The funds will also support the firm’s future expansion.”
“After the announcement of the acquisition of MW Brands since late July, 2010, most pre-closing conditions and works have already been met or completed, such as the approval from the Office of Fair Trading of the UK on anti-trust, while the fund raising through the rights offering and the private placement have been equally successful with strong investors’ interests. We are now more than ready to move ahead and integrate the acquisition once the closing of the MW Brands transaction is effectively completed on October 29.” Mr. Thiraphong concluded.