RS warrants fetch B2.4bn
SET-listed RS Plc has successfully raised 2.4 billion baht from issuance of 193.33 million new warrants to fund its digital TV and health and beauty operations.
The third lot of RS warrants (RS-W3), sold to existing shareholders, will start trading on the stock market on June 1.
The RS-W3 has a three-year maturity and rights to convert into common shares of up to 193.33 million shares with a par value of one baht, representing 19.14% of RS’ total issued shares. The first time RS-W3 can convert into RS shares is on Oct 31 this year.
Darm Nana, chief financial officer of RS, said the funds raised will be used to strengthen the business, especially developing new content for its Channel 8 digital TV station and Lifestar health and beauty operation’s sales and distribution network.
“I believe after raising 2.4 billion baht from RS-W3, we will take a leap towards sustainable growth,” Mr Darm said.
RS has a positive outlook this year after recording a loss last year. Channel 8 is the main revenue driver for its media business while Lifestar is starting to generate steady income, he said.
Channel 8 has more than doubled its ad airtime for news and boxing programmes after successfully expanding its audience in Bangkok and major provinces.
The channel can maintain its strength in the provincial market after securing the rights to popular Thai and international boxing programmes such as 8 Max Muay Thai, the Champion Muay Thai Thad Chuek, and Muay Thai Battle to air during prime time from Friday to Sunday.
Channel 8 wants to expand its online audience by bringing new series, variety shows and boxing to its Live TV app.