Next Point Public Company Limited (SET: NEX) has announced its Board Resolution to approve a capital increase by issuing an additional 5,936,099,398 common shares with a par value of 1.00 Baht per share.
The newly issued ordinary shares not exceeding 3,991,099,398 shares will be offered through Preferential Public Offering at the ratio of 1 existing share to 2 new shares, totaling 3,991,099,398 shares.
Meanwhile, an allocation of not exceeding 1,945,000,000 ordinary shares will be offered to one secific investor (Private Placement), which is currently in the process of seeking.
The Extraordinary General Meeting of Shareholders No. 1/2024 will be held on December 26, 2024.
The company intends to utilize the raised capital as working capital for its operational needs, particularly for procuring various types of commercial electric vehicles aimed at distribution to customers who are interested in such products, amounting to approximately THB 5,500 million (product assumption: 400 units of 10-wheel tractor trucks with 423 kWh batteries, average cost of THB 5 million per unit). The capital increase is scheduled to be used between 2024 -2025.
The company plans to allocate the capital towards investing in the expansion of the production facility of the AAB joint venture company by subscribing to newly issued ordinary shares proportionate to the shareholding ratio in the joint venture or providing loans to support OEM production in joint venture, specifically for the assembly of private vehicles, amounting to approximately THB 436 million. This capital utilization is scheduled between 2024 and 2025.
