Asia
STP&I to Seek Shareholder Nod for Rights Offering, Private Placement
STP&I (BKK:STPI) will seek shareholder approval for its proposed capital increase, rights offering and private placement at an extraordinary general meeting on Sept. 15, according to a Thursday Thailand Exchange filing.The steel fabricator plans to issue 164.8 million new shares in a rights offering to existing shareholders at 5.55 baht per share, on the basis of one new share for every 11 shares held.The company also plans to issue 61.1 million new shares to Masthawin Charnvirakul through a private placement at the same price.Shareholders will also vote on the connected-party transaction related to the private placement.
BKK:STPI
