KCE Electronics details plan for up to 500 million baht convertibles issue

By Jennifer Chiou

New York, March 22 - KCE Electronics Public Co. Ltd. announced it will offer up to 500 million baht of convertible debentures.

The securities will mature within three years from the issue date.

KCE said its board will determine the conversion price for the debentures. It added that the conversion price will not be less than 110% of the average weighted closing price of the its shares on the Stock Exchange of Thailand for the 15 business days prior to the pricing date of the conversion.

The Lat Krabang, Thailand, producer and distributor of custom printed circuit boards said it will issue up to 90 million shares for conversions.

If all debentures are converted into shares, the voting dilution effect on the existing shareholders is not more than 21.25% of paid capital after the capital increase, KCE said.

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