TPI Polene offer

TPI Polene offer
Published: 12 December 2003

Thai cement-maker TPI Polene PCL will hold its long-delayed share offering of 300 million new shares from January 12-16, 2004, the company said in a statement Tuesday.  The share offering has been delayed twice so far this year, with the company blaming inauspicious market conditions.  "By then, the situation in the stock market should have returned to normal," Wanchai Manosutthi, MD of Tisco Securities, the issue's underwriter, said in the statement.  TPI Polene, the country's third biggest cement producer, plans to raise US $180 million from the offering to repay part of its US $1.1 billion debt.