The board of GMM Grammy Plc approved the company's capital increase programme to raise 1.06 billion baht to finance its digital TV investment.
The country's largest entertainment company will issue 106,052,989 new shares to existing shareholders at the ratio of five old shares for one new share. The share price is set at 10 baht each.
The capital increase will be proposed for shareholder approval at an extraordinary meeting on Aug 9. After the capitalisation, Grammy's paid-up capital will reach 636.31 million baht, up from 530.26 million.
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