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Asia

Royal Orchid Hotel (Thailand) OKs Rights Offering of Up to 280 Million Shares

Royal Orchid Hotel (Thailand) (SET:ROH) approved a rights offering of up to 280 million new shares at 0.60 baht each, according to a Monday filing with the Thai bourse.The shares will be offered to existing shareholders at a ratio of 3.35 existing shares for one new share, with the record date set for Oct. 5 and subscription and payment scheduled for Oct. 20 to 27.The company expects to raise up to 168 million baht if fully subscribed.Proceeds will be used to address the company's free-float requirement, as well as for future investments, working capital and liquidity, Royal Orchid said.

SET:ROH
Asia

Royal Orchid Hotel (Thailand) to Close Bangkok Hotel Asset Buyback in August

Royal Orchid Hotel (Thailand) (SET:ROH) expects to complete the repurchase of assets used in the operation of the Royal Orchid Sheraton Riverside Hotel Bangkok from Grande Royal Orchid Hospitality Real Estate Investment Trust (GROREIT) by August.The company said it is coordinating with the lender and the REIT manager to carry out the transaction under the sale-and-leaseback with buy-back option structure approved by shareholders on July 7, according to a Wednesday Thailand Exchange filing.Royal Orchid Hotel will continue managing the hotel during the process and will update shareholders once the transaction is completed, it said.

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