Connect with us

Business

Thai solar power producer Sermsang to sell 30% stake in IPO

Currently, Sermsang Power has operated a solar energy farm with the installed capacity of 52 megawatts in Lopburi province

Avatar

Published

on

Sermsang Power Corporation, Thai alternative energy producer, plans to sell 276.38 million shares, equivalent to 30 per cent of the total registered capital, in an initial public offering (IPO) in Thailand.

Loading...

It submitted the first filing to the Office of Securities and Exchange Commission on January 31 and is to be listed on the Market for Alternative Investment.

Of the total IPO shares, the newly issued shares will not exceed 230.375 million shares and the existing shareholders sell out will not exceed 46 million shares, the filing said.

In the filing, the company said that the IPO proceeds will be used to expand the business domestically and internationally and repay the loan over the next three years.

Currently, Sermsang Power has operated a solar energy farm with the installed capacity of 52 megawatts in Lopburi province and made a joint venture in a solar farm with the installed capacity of 21 megawatts in Japan under the GK-TK scheme.

The project in Japan, with total investment of 7.82-8.32 billion yen, remains under the construction. It is scheduled to commence a commercial operation in the first quarter of next year.

According to the filing, it has a registered capital of 922 million baht, divided into 922 million shares at the par value of 1 baht. It reported the revenue of 660 million baht and the net profit of 385.6 million baht for the first nine months of last year.

Primary Energy Co Ltd, the major shareholder, makes up for 40 per cent, followed by Unity I. Capital Limited holding 35 per cent and Mr. Wiwat Kraipisitkul sharing 10 per cent.

After IPO, Primary Energy’s shares will be diluted to 30 per cent, Unity I. Capital Limited 21.3 per cent and Kraipisitkul 7.5 per cent.

It appoints Kasikorn Securities as a financial advisor and lead underwriter for the IPO.

Source link

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.

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.

Business

Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

Avatar

Published

on

On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

Loading...
(more…)

Continue Reading

Business

Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

Avatar

Published

on

By

The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

Loading...
(more…)

Continue Reading

Business

Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

Published

on

Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,980 other subscribers

Latest

Trending