Asia Pacific Wire & Cable Prepares for Shareholder Rights Offering
Asia Pacific Wire & Cable Corporation's New Initiative
Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC), based in Taiwan, has exciting news for its shareholders regarding a planned rights offering. The offering, aimed at raising approximately $34.2 million, seeks to enhance the company’s equity capital while providing an opportunity for shareholders to participate in a pro rata investment.
Details of the Rights Offering
The rights offering will be structured so that each existing shareholder will receive a non-transferable subscription right. These rights will allow shareholder participation in the acquisition of additional common shares at a set subscription price of $1.66 per share. This structured offering ensures that the existing shareholders have the first opportunity to increase their investment in the company.
Subscription and Over-Subscription Rights
In this offering, shareholders will receive one subscription right for each common share they currently hold. Additionally, there will be an over-subscription option. This means that if shareholders choose to fully exercise their rights, they can also purchase additional shares that remain unsubscribed at the end of the offering. Details on availability and allocation will be provided in the offering documents.
Commitment from Controlling Shareholder
The controlling shareholder, Pacific Electric Wire & Cable Co., Ltd. (PEWC), has expressed a strong intention to participate significantly in this offering, with plans for a cash investment of approximately $27.7 million. While this commitment is significant, the final decision rests with PEWC, and no absolute guarantee has been made regarding the exercise of the subscription rights.
Key Timelines and Regulatory Approvals
The rights offering's commencement is contingent upon the effectiveness of the Registration Statement filed with the SEC. Once approved, shareholders will receive official notifications regarding the record date, subscription period, and the ultimate expiration date of the offering. All necessary detailed information will be included in the final prospectus issued by Asia Pacific Wire & Cable Corporation.
Leveraging Global Opportunities
The proceeds from this rights offering are expected to fund strategic investments in new production facilities. This move is strategically aligned with the global supply chain realignment, which presents numerous opportunities for companies agile enough to adapt to new market demands.
About Asia Pacific Wire & Cable Corporation
Asia Pacific Wire & Cable Corporation is a holding company incorporated in Bermuda, actively engaged in the manufacture and distribution of electrical wire and cable products. Its operations span multiple Asian markets, focusing on power cable and telecommunications products, primarily through a network of subsidiaries. The company prides itself on supplying high-quality products to a diverse range of industries, which include manufacturing and electrical contracting.
Frequently Asked Questions
What is the purpose of the rights offering?
The rights offering aims to raise equity capital to fund new production facilities and to provide shareholders with the opportunity to increase their stake in the company.
When will the rights offering take place?
The rights offering will commence once the SEC approves the Registration Statement. Exact dates will be communicated in the final prospectus.
What are the benefits of participating in the rights offering?
Participating in the rights offering allows shareholders the chance to buy additional shares at a discount, maintaining their proportional ownership in the company.
Can shareholders purchase fractional shares in this offering?
No, shareholders can only purchase whole shares when exercising their subscription rights; fractional shares are not permitted.
Who can participate in the rights offering?
Only current shareholders of Asia Pacific Wire & Cable Corporation will receive rights to participate in the offering, based on the proportion of shares they hold.
Contact Information
For more inquiries, investors can reach out to:
Pacific Holdings Group
2901 Dallas Parkway, Suite 360
Plano, TX 75093
Attn: Paul Weber
Phone: (469) 797-7191
Email: pweber@pusa.com
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