Ref.No.IVL006/01/2012
30 January 2012
President
The Stock Exchange of Thailand
Subject: Report of the Utilization of Capital Increase from
TSR
With reference to Indorama Ventures Public Company Limited
("the Company or IVL") issuance of 479,986,198
units of Transferable Subscription Right ("TSR"), during the
period of 10-24 February 2011 to raise a net amount of Baht
17,221 million after deduction of the expenses for TSR
offering.
IVL and its subsidiaries have invested an amount of Baht
7,834 million for acquisition/purchase of fixed assets and
working capital in;
- Acquisition of 75% equity stake in Trevira GmbH,
Germany
- Acquisition of 42% equity stake in PT. Polyprima,
Indonesia
- Acquisition of 100% equity stake in Wellman International,
Ireland
- Expansion through a brown field project for PET polymers in
Rotterdam, Netherlands
- Expansion through a Greenfield project for Polyester fibers
and yarns in Indonesia
- Expansion through a Greenfield project for PET polymers in
Nigeria
- Debottlenecking of capacity, modifications and improvements
in PET polymers plant in Kaiping, China
The acquisitions and expansions are in the core business of
polyester value chain for sustainable growth through volume
expansion, integration into key raw materials, geographic
diversification, product diversification and innovation for
product development. In addition, Baht 3,845 million has been
used for prepayment of long term loans in IVL and its
subsidiaries. The prepayment of loans will improve liquidity
as will reduce current portion of long term loans.
IVL and its subsidiaries have as on 31st
December 2011 cash and cash equivalent of around
Baht 16,000 million.
75/102 Ocean Tower 2, 37th Floor, Asoke Road, Klongtoey Nuer, Wattana, Bangkok 10110, Thailand
Tel. 02-661-6661
Fax. 02-661-6664 www.indoramaventures.com
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury) Company Secretary
75/102 Ocean Tower 2, 37th Floor, Asoke Road, Klongtoey Nuer, Wattana, Bangkok 10110, Thailand
Tel. 02-661-6661 Fax. 02-661-6664 www.indoramaventures.com
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Documents associés | |
Report of the Utilization of Capital Increase from TSR |