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 company anticipates gross proceeds of approximately $34.2 million if the offering is fully subscribed, with net proceeds primarily allocated for new production facilities to leverage global supply chain changes.

Rights Offering Details

• Subscription Rights: Shareholders will receive non-transferable subscription rights at a ratio of one right per common share, allowing them to purchase additional shares at a price of $1.66 each.
• Over-Subscription Option: Rights holders can opt to purchase additional shares that remain unsubscribed after the initial offering, subject to availability.

Participation from Major Shareholder

• Investment from PEWC: The controlling shareholder, Pacific Electric Wire & Cable Co., Ltd. (PEWC), plans to invest at least $27.7 million in the rights offering, although there is no guarantee of participation.

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 based in Bermuda with operations in Taiwan, focusing on manufacturing and distributing enameled wire, power cables, 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, advising investors to consider potential discrepancies between anticipated and actual results.