Top Thailand department store operator Central Pattana Pcl together with two of its shareholders had raised a total of US$367 million in a share offer. This was confirmed through a term sheet of the sale seen by Reuters this Wednesday.
The company develops shopping malls and manages residential and hotel properties reportedly sold 130.4 million new shares. Thailand's second richest group, the Chirathivat family controls the company and two of its members sold another 83.5 million shares.
The shares were priced at 50.75 baht each, which is near the lowest end of its price range for the offer of between 50 baht and 52 baht per share. The final price of the share price was equivalent to a 4.7% discount from the 53.25 baht price per share at close of Tuesday's trading.
The managers of the share sale were Bank of America Merill Lynch, Bualuang Securities, UBS and Phatra Securities.
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