Seamico issues rights offering
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Seamico Securities Plc's shareholders stand to receive a stock dividend of 1 new share for each 10.17 existing shares and a capital increase at par value of 0.50 for one new share for every 6.78 existing shares held.
The plan is subject to shareholder approval. Shareholders will convene on Dec 15.
Chaipatr Srivisarvacha, executive chairman and CEO of Seamico Securities, said "These moves are designed to increase existing shareholder value by giving a portion of earnings to shareholders now and to increase the company’s ability to enhance shareholder value in the future.”
Seamico's board on Nov 14 approved the issuance of 80 million shares for the dividend payment. Another 120 million shares will be issued as rights offering.
