NMG enjoys a strong shareholder response to Bt1.6-bn fund-raising plan
Play
Nation Multimedia Group has received a warm reception to its Bt1.64-billion mobilisation plan for financing its bid for digital TV licences, with more than 20 per cent of shareholders exercising their right to subscribe to the newly issued shares.
“At the bidding stage for digital television licences, we will not make our individual investors disappointed in ourselves. All funds raised by the capital mobilisation will create new business opportunities for Nation Group and a good return for its investors,” president Duangkamol Chotana said yesterday.
The company is fully prepared to bid for licences to operate three digital television channels – a high-definition channel, a news channel and a children’s channel.
The National Broadcasting and Telecommunications Commission is expected to hold the auction for 24 commercial digital terrestrial TV licences next quarter.
After reservations close on June 14, the company will return money to the shareholders who have oversubscribed within 14 days.
Besides seeking digital TV licences, NMG will proceed with its plan to expand into the Asian region. The group has gone on roadshows to connect with potential advertisers at the regional level, starting with Asia News Network, Asia’s largest newspaper network, in Singapore.
The company has also a project to form a joint venture with local investors in Myanmar to launch an English-version daily newspaper in that high-profile country.
NMG had issued 1.64 billion new shares at Bt0.53 per share to existing shareholders at the ratio of one new share for each existing share at Bt1 each and also issued 1.64 billion warrants to existing shareholders who subscribed to the newly issued shares at the ratio of one free warrant for one capital-increase common share. A warrant can be exchanged for one share at Bt1.
NMG’s stock rose by 2.23 per cent to close at Bt1.83 yesterday.
Subscriptions for the newly issued shares of two of NMG’s subsidiaries, Nation Broadcasting Corporation and Nation International Edutainment, will be opened from July 2-8.
