Bangkok: Thoresen Thai Agencies Plc (TTA) is looking to raise 9.9bn baht through a rights offering as it looks to expand its dry bulk fleet. TTA will offer 708m new shares in mid-December at 14 baht a piece.
"Proceeds will be deployed to fund investment opportunities over the next 12-18 months including fleet expansion and potential investments in the offshore oil and gas services sector," said M.L. Chandchutha Chandratat, the president and chief executive.
The company operates 16 vessels and plans to buy 15 more new or second-hand ones aged no more than eight years. [01/11/12]