Asia Pacific Wire & Cable Corporation Rights Offering Announcement
Registration Statement Filed: Asia Pacific Wire & Cable Corporation Limited has filed a Registration Statement on Form F-1 with the SEC for a proposed rights offering aimed at raising equity capital.
Funding Goals: The rights offering is expected to generate approximately $34.2 million in gross proceeds, which will primarily fund new production facilities to leverage global supply chain realignment.
Rights Offering Details
Subscription Rights: Shareholders will receive non-transferable subscription rights to purchase additional common shares at a price of $1.66 per share, with one right issued per common share held.
Over-Subscription Option: Rights holders can exercise an over-subscription right to purchase additional shares that remain unsubscribed, subject to availability.
Participation from Major Shareholder
Investment from PEWC: The controlling shareholder, Pacific Electric Wire & Cable Co., Ltd. (PEWC), plans to invest approximately $27.7 million in the rights offering, although there is no guarantee of this investment being finalized.
Regulatory and Procedural Notes
SEC Approval Required: The rights offering will not commence until the SEC declares the Registration Statement effective, and details such as the record date and subscription period will be provided in the final prospectus.
Company Overview
Business Operations: Asia Pacific Wire & Cable Corporation is a holding company based in Bermuda, with operations in manufacturing and distributing enameled wire, power cable, and telecommunications products across various Asia Pacific markets.
Customer Base: The company serves a diverse clientele, including appliance manufacturers, electrical contractors, and state-owned entities.
Forward-Looking Statements
Caution on Projections: The announcement includes forward-looking statements that involve risks and uncertainties, and actual results may differ from those anticipated. Investors are advised to consider these factors when evaluating the company's future performance.
APWC
$1.8+Infinity%1D
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About APWC
Asia Pacific Wire & Cable Corporation Ltd is a holding company principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable, enameled wire and electronic wire products in the Asia Pacific region, primarily in Thailand, Singapore, Australia, People's Republic of China, Hong Kong and certain other markets in the Asia Pacific region. The Company operates business in three reporting segments Thailand, North Asia, and Rest of the World (ROW). The Company also provides project engineering services in supply, delivery and installation of power cable. The major customers include appliance component manufacturers, electrical contracting firms, state owned entities, wire and cable dealers and factories.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
