CPF raises fund to solid financial status

Stocks and Financial Services Press Releases Monday June 19, 2017 13:56
Bangkok--19 Jun--Charoen Pokphand Foods
Charoen Pokphand Foods PCL (CPF) plans for a Bt38.715 billion capital increase to adjust its financial portfolio which mainly to facilitate loan payment.

CPF Chairman Mr.Adirek Sripratak said the company's board of director will seek approver from shareholders on the capital increase plan at the ratio of 5 existing common share: 1 new common share at the price of Bt25 per piece. The capital increase will help strengthen the company's financial structure.

After approval from shareholder meeting, the company is expected to earn the capital in early August this year. It will be used for paying loans both in Thailand and oversea, which are high business cost. The payment will lower interest rate burden of the company.

At present, CPF has operated in 16 countries worldwide with targeted sale to grow by 8-10% from last year. The growth mainly generates from its oversea operation with high opportunity for business expansion. It is expected that overseas business sale will increase from 64% to 70% of the company's total sale in the next five years.

At the current world economic situation, CPF has focused on innovation drawn to reduce cost, increase production efficiency and strengthen competitiveness together with human resource development bases on strong financial status to achieve sustainable growth.

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