Thai contractor TTCL to list power arm in Singapore in 2017, targets up to $200m

Thai contractor TTCL to list power arm in Singapore in 2017, targets up to
$200m

TTCL Plc, Thailand's sixth-largest listed contractor by market
capitalisation, is considering listing its subsidiary TTCL Power Holdings on
the Singapore stock exchange, said chief finance officer Gobchai Tanasugan.

The company plans to raise $100 million to $200 million through an initial
public offering (IPO), he told reporters. The IPO proceeds will be used to
make further investment in alternative energy business.

"The listing will be dated in the second half of 2017. We prefer the
Singapore Stock Exchange to the Thai bourse because of lower risk of foreign
currency exchange, attractive tax rates and larger number of institutional
investors," he said.

TTCL currently holds 70 per cent in TTCL Power Holdings and it will hold not
less than 30 per cent stakes after listing.

TTCL projects that its revenue will grow 15 per cent from 22.02 billion baht
in 2015 while net profit margin is expected to surge from 1.92 per cent to 3
per cent this year.

Gobchai added that it plans to join the bidding for construction projects in
the energy and petroleum industry as well as increase the production
capacity of solar farms in Japan from 25 MW to 30 MW this year. The solar
farms are set to be operational in 2019.

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Ref:
http://www.dealstreetasia.com/stories/thai-contractor-ttcl-list-power-arm-si
ngapore-2017-targets-200m-53034/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com