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Thailand’s TPI Polene Power to raise up to $500m in IPO

TPI Polene Power Pcl, Thailand’s largest producer of waste-derived power, plans to raise up to 17.5 billion baht ($500.4 million) in an initial public offering

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TPI Polene Power Pcl, Thailand’s largest producer of waste-derived power, plans to raise up to 17.5 billion baht ($500.4 million) in an initial public offering, in what could be the country’s largest IPO in more than a decade.

The company plans to sell up to 2.5 billion shares, or a 30 percent stake, at a rate of 6 baht-7 baht ($0.17-$0.20) per share, parent firm TPI Polene Pcl said in a statement to the stock exchange on Friday.

Of the total, up to 125 million shares will be offered to TPI Polene’s existing shareholders on March 22-March 24, and the rest will be sold to the public on March 24-March 29, it said.

The power firm has said the sale proceeds will be used mainly to finance capacity expansion.

TPI Polene Power runs four plants with a total installed capacity of 150 MW. Two of the plants, with a combined capacity of 80 MW, use fuel derived from refuse, while the other two generate power from waste heat.

Maybank Kim Eng Securities Pcl, Tisco Bank and CIMB Thai Bank are financial advisers on the IPO.

 

The post Thailand’s TPI Polene Power to raise up to $500m in IPO appeared first on DealStreetAsia.

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

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GWM Signs Definitive Agreement with GM to Purchase Manufacturing Facility in Thailand

GWM (Great Wall Motors) officially signed a share sales and purchase agreement with GM (General Motors) to acquire GM’s production facilities in Rayong, Thailand

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Bangkok – GWM (Great Wall Motors) officially signed a share sales and purchase agreement with GM (General Motors) to acquire GM’s production facilities in Rayong, Thailand, as the company pave way to make Thailand its ASEAN production base for domestic and export for new energy vehicles and internal-combustion engine models.

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More than 100 Thai companies pledge to strengthen women’s economic empowerment

While the Asia-Pacific region has made impressive progress in reducing extreme poverty, with women helping to power growth, fully closing the gender equality gap could take another 100 years.

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Chief executives of 110 companies in Thailand on Wednesday, have signed up to a new set of UN principles on women’s economic empowerment, pledging to improve gender equality in the boardroom, equal pay for equal work, and safer and more inclusive workplaces.

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Thai Airways Debt Restructuring Plan Approved Amid Corruption Allegations

The company, which had total liabilities of 332.2 billion baht at the end of June, faces one of the biggest challenges in its 60-year history as the Central Bankruptcy Court in Bangkok digs further into the airline’s accounts.

Olivier Languepin

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The Central Bankruptcy Court decided yesterday that the airline can proceed with its plan to rehabilitate its debt.

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