BCPG Places Confidence In PP Investors On The Subscription For New Ordinary Shares, Gaining Proceeds Of THB 4502.25 Million

Bundit Sapianchai, BCPG President, disclosed that the Company had allocated 391.5 million newly issued ordinary shares at the offering price of THB 11.50 per share to Private Placement investors – 195.75 million shares to Pilgrim Partners Asia (Pte.) Ltd., (5.93% of paid-up capital), and 195.75 million shares to Capital Asia Investments Pte. Ltd. (5.93% of paid-up capital) – where the two financial institutions have already paid the capital with the total value of THB 4,502.25 million.

Moreover, both financial institutions are allocated 178.6 million units of warrants to subscribe for BCPG-W3, which will last for 1 year, at the ratio of 2.1924 new shares to 1 unit of warrant (with exercise ratio of 1 unit of warrant to 1 new ordinary share at the exercise price of THB 8.00 each). The total value from the exercise of rights is THB 1,428.80 million.

The average offering price of the newly issued ordinary shares in combination with the warrants is THB 10.40 per share, which is less than 90 percent of market price. Therefore, the investors who are allocated the shares shall be required to comply with the Silent Period rules announced by Stock Exchange of Thailand (SET).

“BCPG’s capital increase has been well-received by potential foreign institution investors; Pilgrim Partners Asia (Pte.) Ltd., and Capital Asia Investments Pte. Ltd., reflecting a great confident over the Company’s investment plan to bring about fruitful returns to the Company and our shareholders in the long run”, said Bundit.