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Article: TPI Polene weighs share split ahead of public stock offering.
- Article from:
- Australasian Business Intelligence
- Article date:
- May 7, 2003
CopyrightCOPYRIGHT 2003 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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May 07, 2003 (The Asian Wall Street Journal - ABIX via COMTEX)
TPI Polene had hoped to raise around $US180 million from a sale of its shares in March 2003. However, the Thai cement company, which had hoped to use the funds from the sale to reduce its debt, had to abandon the sale because of lack of market interest. TPI Polene has been restructuring $US1.05 billion in debt since 2001. However, the company has now indicated that it will undertake a 10-for-1 split of its shares prior to reactivating the share sale in the third quarter of 2003. The split should reduce the par value of its shares from 10 baht to one baht, thereby ...