Indicative terms for the deal have been settled at the lower end of the government's original ambitions, with a Bt31 to Bt35 price range announced yesterday Monday. At this level, the company is set to raise Bt24.8 billion to Bt28 billion pre-greenshoe $553.2 million to $624.58 million from an 800 million share deal.
This, in turn, has been split between an offer of 750 million primary shares and 50 million secondary shares. In addition, the 15% greenshoe will also comprise secondary shares. Pre-greenshoe, this represents 28.5% of the company's equity and 31.5% post greenshoe.
Although the indicative price range is beneath the government's initial valuation of Bt37.5 to Bt65 per share,...
