Business Services Industry
Taiwanese Tyre Maker to Build New Plant after IPO Launched.
Knight Ridder/Tribune Business News, November, 2003
By Nareerat Polkuamdee, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Nov. 26--Taiwanese-owned Hwa Fong Rubber (Thailand) Co, a manufacturer of tyres and tubes for motorcycles and bicycles, expects to raise about 400 million baht from its initial public offering (IPO) early next month, according to Kim Eng Securities, the company's financial adviser and underwriter.
The wholly owned unit of Taiwan's Hwa Fong Rubber Industry Co will offer 11.61 million shares, of which 8.71 million are new and 2.90 million are existing shares.
The shares offered amount to 30 percent of the company's paid-up capital after the IPO.
Estimated IPO prices range from 34-35.50 baht a share and the exact price will be announced...
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