TPI Polene`s share offering snapped up

TPI Polene`s share offering snapped up
Published: 20 January 2004

TPI Polene Plc (TPIPL)'s 300 million capital-increase shares sold out early on the first day of subscription yesterday, highlighting the prevailing frenzy for shares.  Investors gave an overwhelming welcome to TPIPL's share sale because of its offering price of Bt37 - well below the market price, an underwriter said.  TPIPL's shares closed at Bt50 on January 9 and are suspended until the second trading session on Monday.  The company's stunning performance in 2003 also gave a big boost to the share allocation, he said. TPIPL, the country's third-largest cement producer, sold 300 million shares to the public as part of its plan to mobilise Bt11 billion in fresh funds for its debt-restructuring plan.