TERMS for the initial public offering of Loxley, a diversified Thai trading and telecommunications company, have been finalised.
The offering of nine million common share will be priced at 175 baht per share, well above the 140 to 160 baht the company and its lead underwriter, Phatra Thanakit, projected a month ago.
''A lot of things have changed,'' said an underwriter for Phatra Thanakit, the most important being a gain of nearly 10 per cent in the benchmark Stock Exchange of Thailand index since the beginning of November.
The subscription period for the offering is December 13 to 15.
Lead manager for the foreign portion of the share sale, comprising about one-third of the new shares, is S.G. Warburg Securities.
The new shares represent 22.5 per cent of total equity in the expanded company, whose main shareholders are subsidiaries and individuals affiliated with Thai Farmers Bank.