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Bangkok Lab and Cosmetic Revises Use for IPO Proceeds worth THB100 Million

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Bangkok Lab and Cosmetic (BKK:BLC) has used 100 million Thai baht of the funds raised from its initial public for working capital for business operations, instead of the initial plan of using it for future project investments, according to a Wednesday filing to the Thai stock exchange.

In 2023, the company completed the IPO of 120 million newly issued shares at a price of 10.50 baht per share. And after deducting the expenses, the total proceeds amounted to 1.20 billion baht.

The last tranche of 58.6 million baht of the proceeds was spent in the January to June period, the statement showed.

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