BH Global: TDR update. Total TDRs to be issued at 30m, with 1 TDR = 2 shares. Indicative issue price is NT$16-19.50 per TDR (S$0.34 - 0.415 per share), with share price at $0.37 from last close……
Book-building exercise is expected to be carried out from 7 Oct -12 Oct 2010. Public subscription shall commence on 8 October 2010 and ends on 12 October 2010. Co. expected to raise $20.4-24.9m proceeds from the proposed TDR issue….
Of the proceeds, $10.3m will be used for repayment of bank loans, $3m used for inevstmentin a galvanized steel wire manufacturing plants, $2m used for purchased of fixed assets and the remaining for working capital purposes.
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