Hana Microelectronics Public Company Limited (SET: HANA) has announced that it raised 4,587 million baht through the private placement to 25 institutional investors as the company intended to use the proceeds to finance the investment in machinery.
On October 17, 2023, HANA made an announcement through the Stock Exchange of Thailand (SET) referring to the 2023 Annual General Meeting of Shareholders held on 28 April 2023, that resolved and approved the company to allocate newly issued ordinary shares not exceeding Baht 80,487,886 (or representing 9.09% of HANA’s paid-up capital) by issuing not exceeding 80,487,886 new ordinary shares with a par value of Baht 1.00 per share for offering to Private Placement under general mandate.
The statement noted that the Board of Directors’ Meeting of the company held on 16 October 2023 has resolved and approved the offering and allocation of the newly issued ordinary shares of 80,487,800 shares, with a par value of THB 1.00 per share, to 25 institutional investors at the offering price of THB 57.00 per share, which is not lower than 90% of the weighted average market price of the company’s ordinary shares.
The weighted average market price per share of the company’s ordinary shares, for 7 consecutive business days during 4 October – 12 October 2023 is equivalent to THB 61.97 per share and the price at 90 percent equals THB 55.78 per share.
The total amount of proceeds that HANA raised through this private placement is 4,587,804,600 baht.
HANA noted that approximately 2,900,000,000 baht of the proceeds will be used to finance the investment in machinery for silicon carbide production of Power Master Semiconductor Co., Ltd. within 2024.
Meanwhile, approximately 1,600,000,000 baht will be used to finance the investment in machinery to expand the company’s core businesses within 2025.
