STARK Successfully Raises THB5.58 Billion to Fund LEONI Kabel and LEONIsche Acquisitions

Stark Corporation Public Company Limited (SET: STARK) has successfully raised 5.58 billion baht through a primary share placement to support its acquisitions in the United States of America.


The company announced an allocation of newly issued shares of 1,500 million, representing 11.2% of paid up capital after a capital increase, with a par value of THB1.00 per share, to offer to a private placement on Tuesday, October 4, 2022, at the price of THB3.72 per share, a 7% discount to Monday’s close of THB4.00 per share.

The share price of STARK closed at THB3.78 Tuesday, fell 5.5%.

The company plans to use the proceeds to acquire LEONI Kabel and LEONIsche Holding, the automotive cables businesses of German wiring system manufacturer Leoni, while the Independent Financial Advisor had the opinion that the acquisition of assets of the company is an appropriate transaction and the shareholders should approve the transaction.


There is a 90-day lock-up on the issuer.

Credit Suisse, HSBC and UOB were the bookrunners.