The Steel Public Company Limited announced that it expects to receive THB 750 million in funding.

The Steel Public Company Limited (SET:THE-R) announced a private placement of 150,000,000 common share at THB 5 per share for gross proceeds of THB 750,000,000 on July 17, 2015. Suroj Jirapongtrakul and Nirut Ngamchamnanrith each will subscribe 75,000,000 shares. Each share to be issued will have a par value of THB 1. The transaction is subject to shareholders approval in an extra-ordinary general meeting to be held on August 28, 2015.

The subscription period will be from August 28, 2015 to September 27, 2015. The board of directors of the company approved the transaction.