The company will increase its capital by Bt450 million by issuing 221.5 million new shares at Bt2.04 per share to the Sirivadhanabhakdi clan to support its business plan for real-estate investment. The capital-increase exercise needs to be approved by shareholders at a meeting set for July 12.

The company's stock last closed at Bt2.18 on Friday.

The buyers of the new shares are Thapana and Panot Sirivadhanabhakdi, sons of whisky tycoon Charoen.

According to yesterday's press release from Ayudhya Securities, the new investors intend to increase their stake in Univentures to more than 50 per cent. Following the private placement, the new investors will undertake a tender offer for the remaining outstanding shares in the company.

Aside from buying capital-increase shares, the new investors will acquire 170 million shares at the same price of Bt2.04 from shareholders, including Kittiratt Na Ranong, Rob Collins and Iain Donnachie. This would increase their shareholding to 51.84 per cent. The major shareholders will remain as advisers to the board.

"This private placement is a key strategic step for Univentures, bringing in a strong shareholder to support our goal of growing into a leading property investment company," said Ornruedi Na Ranong, CEO of Univentures.

No impact is expected on the management, employees and operations of the company, she said, adding that the new investors would sit on the firm's board and help oversee its strategic direction.

"We invested in Univentures because we believe in the investment model, we believe in the management and we believe that with our financial support the company has a lot of growth potential," Thapana said.

Panot said he and his brother had no plan to delist Univentures and looked forward to being involved in its future development.

Earlier yesterday, Univentures asked the Stock Exchange of Thailand to suspend trading in its shares for another day. On Monday it had told the SET that a development might change its shareholder structure. Negotiations had reached the final stage, which may affect trade in its securities, but they were not yet wrapped up on Monday.