Wichai Thongtang becomes major shareholder of Rayong Purifier
Wichai Thongtang, major shareholder of Cable Thai Holding and Prasit Patana, has expanded his investment in energy by buying 24.91 per cent of Rayong Purifier in a deal worth Bt200.66 million at Bt1.0033 per share.
Rayong Purifier’s board of directors reported to the Stock Exchange of Thailand yesterday that last year’s annual general meeting of shareholders resolved the allotment of new ordinary shares resulting from capital increase to specific persons. This private placement would not exceed 273 million shares, with a par value of Bt1 per share, and the company now has sold its new ordinary shares to two investors at Bt1.0033 per share.
These investors are Wichai, who bought 200 million shares or 73.26 per cent of the 273-million total to hold a 24.91-per-cent stake in the company.
The remaining 73 million shares, or about 26.74 per cent of the total, were bought by Metta Banturngsuk, a former energy official, for a 9.09-per-cent stake in the company.
Payment for this private placement is to be transacted by December 11.
The company reported that the company would use the new funding as working capital and to enhance liquidity.
After the private placement, the company’s major shareholder will change from Petro-Instruments Corp, which had a stake of 29.87 per cent, to Wichai.
Petro-Instruments will dilute its stake from 29.87 per cent to 19.72 per cent, making it the second major shareholder. Third is Metta with 9.09 per cent.
