Thai retailer Big C plans to increase capital by Bt25bn (US$806m), through a rights offering of ordinary shares.
Major stake holder Casino has indicated it would subscribe to the capital increase proportionate to its current 63.2 per cent shareholding in Big C.
According to a report from Business Wire, proceeds from the capital increase would be used to cover outstanding debts incurred during the company’s buy out of Carrefour’s retail operations in Thailand, as well as funding the company’s business growth strategy.
The rights offering is conditional on approval from Big C shareholders at the company’s extraordinary general meeting on 17 November.
