Seafood giant Thai Union Frozen Products said today (27 October) that it has raised THB3.75bn (US$125m) via two share offerings.
The Bangkok-listed firm, which is set to become the new owner of MWBrands, the parent of seafood brands John West and Petit Navire, said it had sold 73.2m shares.
One offer raised THB2.21bn via selling 44.2m shares at THB50 each; the second raised THB1.54bn through selling 29m shares at THB53.
In July, Thai Union struck a deal to buy MWBrands from private-equity firm Trilantic Partners for EUR680m (US$935.2m). The acquisition means a third of Thai Union’s sales will come from Europe – up from 11%. Thai Union expects to close the deal this month.