GULF Books ฿32Bn to Fuel Projects as Subscription for Capital Increase Overflows by 1.26x

Gulf Energy Development Public Company Limited (GULF) announced a 1.26 times oversubscription of its newly issued ordinary shares at the par value of THB 1 per share through Rights Offering (RO).

 

Ms. Yupapin Wangviwat, Director of GULF, stated that the company received an oversubscription of 1.26 times in its newly issued ordinary shares, proposed on 14-18 September 2020 to its existing shareholders in proportion to their respective shareholdings at the ratio of 10 existing ordinary shares to 1 newly issued ordinary share, and at the par value of THB 1 per share.

The oversubscription reflected GULF’s growth potential and its solid business strategic plans as the company will exercise the proceeding funds worth 32,000 million baht to invest in its existing projects as well as upcoming projects, and look for the opportunity for business expansion in Asia, Europe, America and other regions.