JFE, Marubeni-Itochu become shareholders of SSI
Sahaviriya Steel Industries are welcoming JFE Steel Corp and Marubeni-Itochu as new shareholders, following the private placement of 2.27 billion shares.
The company announced that on Nov 6, it equally offered 1.134 billion shares to the Japanese steel firm and the Japanese trading firm, at the price of Bt0.68 apiece, above today's latest price of Bt0.62. It effectively raised Bt1.54 billion from the private placement.
SSI plans to offer a total of 5.3 billion shares in private placements. It is part of the offering of 19.4 billion new shares, at the par value of Bt apiece.
JFE Steel is one of the world's largest integrated steel producers, while Marubeni-Itochu is a leading trading company specialised in iron and steel products in exports, imports and domestic field.
"The offering of newly-issued shares to JFE and Marubeni-Itochu will strengthen the business relationship between the company and the world's leading steel producers, who posses the capabilities in production technology in integrated steel industry," said Win Viriyaprapaikit, president of the Thai company.
"Engaging in this business partnership not only bring about the stability and security of raw material to the company, but also lead to improvements in operational efficiency and developmennts in the quality of the company's products and services as well."
