Thai Union Frozen Products (TUF) is planning to raise close to $380m, which will fund its planned acquisition of Bumble Bee Seafoods.
TUF will offer up to 795.3 million new shares to its existing shareholders at $0.4685 each, Reuters reported.
The company originally planned to offer up to 1.2 billion new shares to raise $400m.
TUF CEO Thiraphong Chansiri said: "It's only $20 million less than the earlier announcement. The proceed is sufficient to finance the acquisition and we expect the deal to be closed in the fourth quarter."
The acquisition of Bumble Bee Seafoods is subject to approval from the US antitrust authorities.
Based in California, Bumble Bee Foods produces and markets seafood products. It offers canned and pouched tuna products, salmon products, shrimps, sardines and mackerel products, as well as fresh frozen seafood products.
TUF is looking to increase its revenue through acquisitions outside Thailand.
The company manufactures and exports frozen and canned seafood products in Thailand and internationally.
