Origin Property (ORI) pushes a subsidiary of “Brittania” (BRI) to file filing with the SEC for IPO of no more than 13.47 million shares, worth 0.50 baht per share, bring money “Expanding the business – paying off loans – working capital in the business”
On July 31, 2021, Origin Property Public Company Limited or ORI revealed that Britannia Public Company Limited or BRI, a subsidiary of the Company, has filed a registration statement. The offering of securities and the draft prospectus (Filing) to the Securities and Exchange Commission (SEC) has been completed. for the initial public offering (IPO), including listing the shares of Britannia Public Company Limited on the Stock Exchange of Thailand
Under the issuance and initial public offering (IPO) plan, BRI will issue and offer the newly issued ordinary shares to the general public. and other types of investors, including offering warrants in which the shares allocated to support the exercise of warrants to directors, executives and employees of BRI and BRI’s subsidiaries (ESOP Warrants), totaling not more than 30% of BRI’s total paid-up capital after Initial Public Offering (IPO) and Exercise of ESOP Warrants (under the assumption that there is subscription for newly issued ordinary shares and the use of warrants in full)
In this regard, under the Spin-Off Plan, BRI has a plan to allocate the newly issued ordinary shares for public offering. and other types of investors, including ordinary shareholders of a specific group of companies who are entitled to pre-emptive offering and issuance of newly issued ordinary shares and warrants to directors, executives and/or employees. of BRI and/or BRI’s subsidiaries, details of which will be determined later
In addition, there will be an issuance and offer for sale of some newly-issued ordinary shares to directors, executives and/or employees of the Company and/or its subsidiaries in the amount of not more than 13,470,000 shares with a par value of 0.50 baht per share.
After the offering of newly issued ordinary shares in this time and the Company will remain a major shareholder in BRI in the proportion of not less than 70% of BRI’s paid-up capital after the initial public offering (IPO) and the exercise of ESOP Warrant (under assumption that there is a subscription for the newly issued ordinary shares and the use of the warrants in full) and BRI will remain in the status of Subsidiary of the Company as before
Initially, BRI aims to use the proceeds from the initial public offering (IPO) as follows:
(1) To use as funds for project development and business expansion
(2) to pay the loan; and
(3) to use as working capital in the business
The Company will inform more details about the plan for the initial public offering (IPO) of BRI.
Investors can study detailed information from the BRI’s full securities offering registration statement and draft prospectus filed with the SEC at the SEC website (www. .sec.or.th)