Bangchak Corporation Public Company Limited (SET: BCP) has announced that resolved to approve the framework and procedures for determination of the company’s shareholders that are entitled to subscribe newly-issued ordinary shares of BBGI Public Company Limited (BBGI) in proportion to their shareholdings (Pre-Emptive Rights), and has resolved to schedule the record date for the list of shareholders entitled to subscribe the said newly-issued shares of BBGI.
The announcement came as BCP has been disclosing, from time to time to the Stock Exchange of Thailand, the progress of the issuance and offering of newly-issued ordinary shares in an initial public offering (IPO) of BBGI, a subsidiary of the company, and listing BBGI on the Stock Exchange of Thailand (Spin-off Plan). Under the Spin-off Plan, BBGI plans to allot its newly issued ordinary shares to the general public and other types of investors, including the holders of the company’s ordinary shares that are entitled to pre-emptive rights (Pre-emptive Offering).
In this regard, BBGI shall offer and allot its newly-issued ordinary shares in the total number of 64,980,000 shares to the company’s shareholders at an approximately ratio of 20.8939 ordinary shares per 1 BGGI’s share.
BBGI shall also offer and allot its newly-issued ordinary shares in the total number of 43,320,000 shares to shareholders of Khon Kaen Sugar Industry Public Company Limited (SET: KSL) at an approximately ratio of 101.8059 ordinary shares per 1 BGGI’s share.
Furthermore, the Board of Director’s meeting described above has approved 14 February 2022 to be the record date for the list of BCP’s shareholders that are entitled to pre-emptive rights, which is the same date as KSL.