Thailand-based hospitality group Minor International (MINT) said is planning to raise capital in the total amount of 25 billion baht ($782 million) through various instruments, including perpetual bonds, a rights offering and three-year warrants.

The share capital increases are subject to shareholders’ approval at the Annual General Meeting of Shareholders to be held on 19June 2020.

The announced capital increase programme will be completed between 2020 and2023. The issuance of 10 billion baht equivalent in onshore/offshore equity-accounted perpetual bonds is expected to be completed in the third quarter of 2020.

The rights offering, which targets to raise approximately 10 billion baht of capital, is expected to be completed in the third quarter of 2020, while warrants, aiming to raise additional equity in the total amount of approximately 5 billion baht, will be issued after the rights offering transaction is completed, with a tenure of three years from the issue date. – TradeArabia News Service