March 20, 2012 / 1:57 AM / 5 years ago

Thailand's Italian-Thai to issue new shares, omit div

BANGKOK, March 20 (Reuters) - Thailand's biggest building contractor, Italian-Thai Development Pcl, said it planned to issue new shares and would not pay a dividend for 2011.

It told the stock exchange its board had approved the issuance of 1.68 billion new shares, with around 1.26 billion going to existing shareholders, equivalent to 30 percent of paid-up capital, and around 419 million in a private placement, equivalent to 10 percent of paid-up capital.

It gave no details on how it planned to use the funds. ($1 = 30.725 baht) (Reporting by Viparat Jantraprap; Editing by Alan Raybould)

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