The statement said Ticon reported that a meeting of its board of directors voted to appoint Credit Suisse (Hong Kong) and Credit Suisse Securities (Thailand) as sole book runners to sell 107 million newly issued ordinary shares to non-connected persons via private placement at Bt19 apiece. That represents a 6.86-per-cent discount off of Monday’s closing price of Bt20.40. All shares were sold.
After the placement, Ticon’s paid-up capital will increase to Bt645.4 million, from Bt538.4 million now. The company will use the proceeds to fund its business expansion.
Starting from yesterday’s first trading session, the SET ordered a resumption of trade in Ticon securities, including Ticon warrant 1 and warrant 2, after Ticon requested that the SET temporarily halt the trading of its securities from Monday’s second trading session.
Seamico Securities adjusted Ticon shares after increasing capital via private placement to full value. The brokerage firm said that after meeting with Ticon executives, the firm was more positive about Ticon. The demand of Ticon’s space rentals tends to be positive, due to an increase in the number and size of factories, especially in the motor, electronic and logistics sectors.
Next year, Ticon also plans to sell more of its factories to the Ticon Property Fund as an underlying asset. As a result, the company is likely to generate a continuous profit. Seamico readjusted Ticon’s share price to Bt20.70 apiece. Following the new assessment, Ticon’s price is full value at the moment. The stock closed at Bt19.8 yesterday, down 2.94 per cent.