Millcon Steel to price up to 1.81 billion baht of 5% convertibles

By Marisa Wong

Madison, Wis., Oct. 18 - Millcon Steel Industries PCL plans to issue up to 1.809 billion baht of 5% convertible debentures, according to a company notice filed with the Stock Exchange of Thailand.

The convertibles may be issued in multiple tranches.

The tenor of the convertibles will be six years or less.

The conversion price will be 3 baht per share. The debentures are convertible beginning one year after the issue date.

The company said it will reserve up to 603 million shares to be issued upon conversion.

Millcon is a steel company based in Bangkok.

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