DPAINT has announced a rights offering of up to 1.84 billion shares at 0.20 baht each, aiming to raise a maximum of 368 million baht. The funds will be used to invest in The City Phuket project, valued at 359.43 million baht. Major shareholder Sidaphan Sombattheera has expressed intention to exercise all her rights and subscribe for any remaining shares beyond her entitlement. The company has backup funding plans, including 93 million baht from the sale of Suwinthawong land and alternatives such as project finance loans or private placement if the capital raise falls short. Buildings A and B of The City Phuket are already completed and ready for ownership transfer within 2026, while Building C is under development to generate future income.
Delta Paint PCLRights offering raises funds for The City Phuket project, with major shareholder support and backup plans.
