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Vinythai may sell new shares to boost free float

Thu Sep 25, 2008 10:44pm EDT

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BANGKOK, Sept 26 (Reuters) - Vinythai PCL VNT.BK, Thailand's second largest polyvinyl chloride (PVC) producer, said on Friday it may raise capital by selling new shares to retail investors as part of its options to boost its free float.

The new investors would not be involved in management and the proceeds from the sale would be used to finance its future projects, the company said in a statement.

Other options are for its major shareholders to sell some of its shares or the company to offer stock options to its employees, it said.

Vinythai, 50 percent owned by Belgium's Solvay SA (SOLB.BR), said in June retail investors held a combined 12.98 percent of the company, below a stock exchange requirement of a tradeable free float of at least 15 percent. (Reporting by Khettiya Jittapong; Editing by Ed Cropley)



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