Power Line to up capital
Power Line Engineering is to increase its capital by 180 million shares via private placement at market price, as well as increase its investment in Today Asset (Thailand).
Swake Srisuchat, president of Power Line Engineering, said in a statement submitted to the Stock Exchange of Thailand that his company's board last Friday approved a capital increase of 180 million shares at Bt1 apiece, boosting the company's registered capital from Bt546.15 million to Bt726.15 million.The capital-increase shares would be offered at a price not lower than the market price of the company's shares, which will be determined by their average price over a seven to 15 day trading period prior to their issue. The company will hold a shareholder meeting on December 1 to approve the capital increase. Also, Power Line's board approved an additional Bt18.75 million in investment in Today Asset (Thailand), bringing Power Line's investment to Bt81.25 million.
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