Charoen Pokphand Foods Public Company Limited (CPF) reported the results of the sale of securities on August 4, 2017. There were 868 million subscription shares equivalent to Baht 21,707 million. CP Group, the major shareholder, has subscribed to its full rights.

At the CPF’s Extraordinary General Meeting No. 1/2560 held on June 27, 2017, its Shareholders have approved the increase of registered capital and the allotment of newly issued ordinary shares to the existing shareholders at the allocation ratio as 5 existing ordinary shares to 1 newly issued ordinary share at the offering price of Baht 25.00 per share, with the objective to enhance its financial status.

The subscription period was July 24-31, 2017. The Company reported the received amount of Baht 21,707 million from the capital increase. It plans to use the proceeds to repay high-interest debt of overseas operation hence reduce the company’s interest expenses. This results in the Company having registered capital of 8,611 million shares, an increase of approximately 10% over the amount of pre-right offerings. The newly issued shares are expected to be tradable on Wednesday, August 9, 2017.