APWC Shareholder Urges Cancellation of Rights Offering to Protect Shareholder Value
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 01 2025
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Should l Buy APWC?
Source: Newsfilter
- Shareholder Concerns: Shareholder Marco M. Elser expressed deep concerns over APWC's persistent share price decline, noting that the stock trades at only 22% of its tangible book value of $7.50 per share, while peers have seen stock prices rise over 400% in the past five years.
- Capital Allocation Missteps: Elser criticized management's decision to issue new shares at a price below book value instead of repurchasing undervalued shares, indicating a disregard for shareholder value that could lead to severe dilution for existing minority holders.
- Inventory Assessment Proposal: He urged the formation of an independent special committee to evaluate whether maintaining $137 million in copper and finished goods inventory is in shareholders' best interests, particularly given the company's historically low margins.
- Transparency Improvement: Elser called for a commitment to quarterly earnings calls and regular strategic updates to enhance transparency with all shareholders, aiming to rebuild market confidence and restore shareholder value.
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Analyst Views on APWC
About APWC
Asia Pacific Wire & Cable Corporation Ltd is a holding company principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable, enameled wire and electronic wire products in the Asia Pacific region, primarily in Thailand, Singapore, Australia, People's Republic of China, Hong Kong and certain other markets in the Asia Pacific region. The Company operates business in three reporting segments Thailand, North Asia, and Rest of the World (ROW). The Company also provides project engineering services in supply, delivery and installation of power cable. The major customers include appliance component manufacturers, electrical contracting firms, state owned entities, wire and cable dealers and factories.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Asia Pacific Wire & Cable Completes Rights Offering
- Successful Offering: Asia Pacific Wire & Cable completed its rights offering from December 18, 2025, to January 23, 2026, issuing 20,616,227 common shares, with 18,165,738 shares subscribed, achieving an 88.11% subscription rate and raising approximately $30.2 million, significantly enhancing its capital strength.
- Subsequent Sale Plan: The remaining 2,450,489 shares will be offered to eligible investors at no less than the subscription price, expected to further improve the company's liquidity and support its manufacturing capacity expansion in North America and Southeast Asia.
- Strategic Growth Initiatives: The proceeds from the offering will fund acquisitions of key products and technologies, driving long-term growth in advanced electronics, components, and energy infrastructure, leveraging market opportunities from recent US-Asia trade agreements.
- Market Demand Outlook: As the global supply chain pivots, APWC anticipates securing new orders, deepening customer relationships, and scaling operations, providing a long-term runway for sustainable growth.
See More
APWC Launches Rights Offering at $1.66 per Share
- Rights Offering Initiation: Asia Pacific Wire & Cable Corporation has announced the commencement of its rights offering, allowing shareholders to purchase additional common shares at $1.66 each, with expected proceeds of approximately $33.9 million for general working capital and corporate purposes.
- Shareholder Participation Opportunity: This rights offering provides all shareholders with a pro rata opportunity to participate, aiming to raise equity capital in a cost-effective manner to enhance the company's investment capacity in the North American market.
- Value-Adding Investment Plans: The management team indicates that the funds raised will be directed towards investments in new products and technologies, which are intended to enhance the value of the traditional wire and cable business, thereby driving future growth.
- Information Disclosure: Relevant documents and informational materials for the rights offering have begun distribution, with shareholders required to exercise their subscription rights by January 23, 2026, to ensure participation in this financing opportunity.
See More
APWC Shareholder Urges Cancellation of Rights Offering to Protect Shareholder Value
- Shareholder Concerns: Shareholder Marco M. Elser expressed deep concerns over APWC's persistent share price decline, noting that the stock trades at only 22% of its tangible book value of $7.50 per share, while peers have seen stock prices rise over 400% in the past five years.
- Capital Allocation Missteps: Elser criticized management's decision to issue new shares at a price below book value instead of repurchasing undervalued shares, indicating a disregard for shareholder value that could lead to severe dilution for existing minority holders.
- Inventory Assessment Proposal: He urged the formation of an independent special committee to evaluate whether maintaining $137 million in copper and finished goods inventory is in shareholders' best interests, particularly given the company's historically low margins.
- Transparency Improvement: Elser called for a commitment to quarterly earnings calls and regular strategic updates to enhance transparency with all shareholders, aiming to rebuild market confidence and restore shareholder value.
See More
Asia Pacific Wire & Cable Corporation Limited Unveils Rights Offering Plans for Shareholders
Asia Pacific Wire & Cable Corporation Rights Offering Announcement
- Registration Statement Filed: Asia Pacific Wire & Cable Corporation Limited has filed a Registration Statement on Form F-1 with the SEC for a proposed rights offering aimed at raising equity capital.
- Funding Goals: The rights offering is expected to generate approximately $34.2 million in gross proceeds, which will primarily fund new production facilities to leverage global supply chain realignment.
Rights Offering Details
- Subscription Rights: Shareholders will receive non-transferable subscription rights to purchase additional common shares at a price of $1.66 per share, with one right issued per common share held.
- Over-Subscription Option: Rights holders can exercise an over-subscription right to purchase additional shares that remain unsubscribed, subject to availability.
Participation from Major Shareholder
- Investment from PEWC: The controlling shareholder, Pacific Electric Wire & Cable Co., Ltd. (PEWC), plans to invest approximately $27.7 million in the rights offering, although there is no guarantee of this investment being finalized.
Regulatory and Procedural Notes
- SEC Approval Required: The rights offering will not commence until the SEC declares the Registration Statement effective, and details such as the record date and subscription period will be provided in the final prospectus.
Company Overview
- Business Operations: Asia Pacific Wire & Cable Corporation is a holding company based in Bermuda, with operations in manufacturing and distributing enameled wire, power cable, and telecommunications products across various Asia Pacific markets.
- Customer Base: The company serves a diverse clientele, including appliance manufacturers, electrical contractors, and state-owned entities.
Forward-Looking Statements
- Caution on Projections: The announcement includes forward-looking statements that involve risks and uncertainties, and actual results may differ from those anticipated. Investors are advised to consider these factors when evaluating the company's future performance.
See More
A 'huge win' for bulls: Markets soar on U.S.-China deal as Wall Street sees more upside
U.S.-China Tariff Deal: The new U.S.-China agreement to temporarily reduce tariffs from over 100% to 10% has been positively received by market watchers, with expectations of increased investor relief and a potential boost in stock markets globally.
Market Reactions and Future Outlook: Analysts predict that the deal could reignite risk-on sentiment among investors, leading to further stock rallies, while acknowledging that uncertainty remains regarding future negotiations and the effectiveness of the 90-day pause.
See More
Asia Pacific Wire & Cable Corporation Limited Appoints Ben Lee as Chief Financial Officer
New CFO Appointment: Asia Pacific Wire & Cable Corporation Limited has announced the appointment of Ben Lee as Chief Financial Officer, effective May 12, 2025. Lee brings extensive experience in global finance and corporate roles, including previous positions at O'Neil Global Advisors and Yum! Brands.
CEO's Statement: CEO Yuan Chun Tang expressed optimism about Lee joining the executive team, highlighting his strong credentials in corporate finance and international business amidst changing global trade dynamics.
See More
Asia Pacific Wire & Cable Completes Rights Offering
- Successful Offering: Asia Pacific Wire & Cable completed its rights offering from December 18, 2025, to January 23, 2026, issuing 20,616,227 common shares, with 18,165,738 shares subscribed, achieving an 88.11% subscription rate and raising approximately $30.2 million, significantly enhancing its capital strength.
- Subsequent Sale Plan: The remaining 2,450,489 shares will be offered to eligible investors at no less than the subscription price, expected to further improve the company's liquidity and support its manufacturing capacity expansion in North America and Southeast Asia.
- Strategic Growth Initiatives: The proceeds from the offering will fund acquisitions of key products and technologies, driving long-term growth in advanced electronics, components, and energy infrastructure, leveraging market opportunities from recent US-Asia trade agreements.
- Market Demand Outlook: As the global supply chain pivots, APWC anticipates securing new orders, deepening customer relationships, and scaling operations, providing a long-term runway for sustainable growth.
See More
APWC Launches Rights Offering at $1.66 per Share
- Rights Offering Initiation: Asia Pacific Wire & Cable Corporation has announced the commencement of its rights offering, allowing shareholders to purchase additional common shares at $1.66 each, with expected proceeds of approximately $33.9 million for general working capital and corporate purposes.
- Shareholder Participation Opportunity: This rights offering provides all shareholders with a pro rata opportunity to participate, aiming to raise equity capital in a cost-effective manner to enhance the company's investment capacity in the North American market.
- Value-Adding Investment Plans: The management team indicates that the funds raised will be directed towards investments in new products and technologies, which are intended to enhance the value of the traditional wire and cable business, thereby driving future growth.
- Information Disclosure: Relevant documents and informational materials for the rights offering have begun distribution, with shareholders required to exercise their subscription rights by January 23, 2026, to ensure participation in this financing opportunity.
See More
APWC Shareholder Urges Cancellation of Rights Offering to Protect Shareholder Value
- Shareholder Concerns: Shareholder Marco M. Elser expressed deep concerns over APWC's persistent share price decline, noting that the stock trades at only 22% of its tangible book value of $7.50 per share, while peers have seen stock prices rise over 400% in the past five years.
- Capital Allocation Missteps: Elser criticized management's decision to issue new shares at a price below book value instead of repurchasing undervalued shares, indicating a disregard for shareholder value that could lead to severe dilution for existing minority holders.
- Inventory Assessment Proposal: He urged the formation of an independent special committee to evaluate whether maintaining $137 million in copper and finished goods inventory is in shareholders' best interests, particularly given the company's historically low margins.
- Transparency Improvement: Elser called for a commitment to quarterly earnings calls and regular strategic updates to enhance transparency with all shareholders, aiming to rebuild market confidence and restore shareholder value.
See More
Asia Pacific Wire & Cable Corporation Limited Unveils Rights Offering Plans for Shareholders
Asia Pacific Wire & Cable Corporation Rights Offering Announcement
- Registration Statement Filed: Asia Pacific Wire & Cable Corporation Limited has filed a Registration Statement on Form F-1 with the SEC for a proposed rights offering aimed at raising equity capital.
- Funding Goals: The rights offering is expected to generate approximately $34.2 million in gross proceeds, which will primarily fund new production facilities to leverage global supply chain realignment.
Rights Offering Details
- Subscription Rights: Shareholders will receive non-transferable subscription rights to purchase additional common shares at a price of $1.66 per share, with one right issued per common share held.
- Over-Subscription Option: Rights holders can exercise an over-subscription right to purchase additional shares that remain unsubscribed, subject to availability.
Participation from Major Shareholder
- Investment from PEWC: The controlling shareholder, Pacific Electric Wire & Cable Co., Ltd. (PEWC), plans to invest approximately $27.7 million in the rights offering, although there is no guarantee of this investment being finalized.
Regulatory and Procedural Notes
- SEC Approval Required: The rights offering will not commence until the SEC declares the Registration Statement effective, and details such as the record date and subscription period will be provided in the final prospectus.
Company Overview
- Business Operations: Asia Pacific Wire & Cable Corporation is a holding company based in Bermuda, with operations in manufacturing and distributing enameled wire, power cable, and telecommunications products across various Asia Pacific markets.
- Customer Base: The company serves a diverse clientele, including appliance manufacturers, electrical contractors, and state-owned entities.
Forward-Looking Statements
- Caution on Projections: The announcement includes forward-looking statements that involve risks and uncertainties, and actual results may differ from those anticipated. Investors are advised to consider these factors when evaluating the company's future performance.
See More
A 'huge win' for bulls: Markets soar on U.S.-China deal as Wall Street sees more upside
U.S.-China Tariff Deal: The new U.S.-China agreement to temporarily reduce tariffs from over 100% to 10% has been positively received by market watchers, with expectations of increased investor relief and a potential boost in stock markets globally.
Market Reactions and Future Outlook: Analysts predict that the deal could reignite risk-on sentiment among investors, leading to further stock rallies, while acknowledging that uncertainty remains regarding future negotiations and the effectiveness of the 90-day pause.
See More
Asia Pacific Wire & Cable Corporation Limited Appoints Ben Lee as Chief Financial Officer
New CFO Appointment: Asia Pacific Wire & Cable Corporation Limited has announced the appointment of Ben Lee as Chief Financial Officer, effective May 12, 2025. Lee brings extensive experience in global finance and corporate roles, including previous positions at O'Neil Global Advisors and Yum! Brands.
CEO's Statement: CEO Yuan Chun Tang expressed optimism about Lee joining the executive team, highlighting his strong credentials in corporate finance and international business amidst changing global trade dynamics.
See More
