Thai power pro­ducer plans 17.5b baht IPO

New Straits Times - - Business -

BANGKOK: TPI Po­lene Power Pcl, Thai­land’s largest pro­ducer of waste-de­rived power, plans to raise up to 17.5 bil­lion baht (RM2.22 bil­lion) in an ini­tial pub­lic of­fer­ing (IPO), 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 per cent stake, at a six to seven baht per share, it said yes­ter­day. Up to 125 mil­lion shares will be of­fered to TPI Po­lene’s ex­ist­ing share­hold­ers on March 22 to 24, and the rest will be sold to the pub­lic on March 24 to 29.

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