Some analysts say there may have been another reason for the company's previous allergy to capital markets. Whether that has changed remains to be seen. He's also hoping to attract their clients' money. In a landmark transaction in March, Siam Cement issued its first bond. The baht-denominated issue raised 14 billion baht that will be used to refinance its debt.
Analysts see the bond as a turning point.
Maybe a lot shaken. Chumpol felt the company needed to drastically change both its focus and financing, but he had to fight fellow board members who thought he was being too radical. The company's charm offensive appears to be working. It has managed to keep its creditors at bay and its share price is now trading at around 700 baht, up from a low of 168 baht last year. Cash flow is also picking up.