Thailand: BCPG sets price of 10 baht apiece for listing shares

Thailand: BCPG sets price of 10 baht apiece for listing shares

BCPG Plc, the power business arm of SET-listed Bangchak Petroleum Plc (BCP),
has announced a price of 10 baht each for its initial public offering (IPO)
shares.

President Bundit Sapianchai said yesterday the float on the SET would number
590 million shares, or 29.6% of total equity.

Of the total, 68.8 million shares will be sold to existing Bangchak
shareholders, 50 million units are for its sponsor, and the remainder will
be sold to institutional investors and general investors.

"We are confident the IPO will receive a warm welcome from investors
although the bourse remains volatile," he said.

The booking period for IPO shares is Sept 16-20. BCPG expects to gain 6
billion baht in cash from the listing.

The company also has the financial capability to borrow or issue debentures
worth an additional 10 billion baht, which would be sufficient for capacity
expansion.

"BCPG plans to expand power-generating capacity to 1,000 megawatts by 2020
and that requires further capital," Mr Bundit said.

According to the plan, the company will focus on renewable energy throughout
East Asia, mainly South Korea, Japan, China and Taiwan as well as the
Philippines. Its renewable projects includes geothermal, wind and solar
power.

The company operates solar farms with a combined power-generating capacity
of 138MW, of which 118MW is in Thailand and the other 20MW in Japan. It
plans to increase the capacity on its pipeline to 324MW by the year-end.

BCPG also has ongoing solar farm projects with a power-generating capacity
of 186MW -- 12MW in Ayutthaya and Ang Thong and 174MW in Japan.

BCP shares closed yesterday on the Stock Exchange of Thailand at 30.75 baht,
up 50 satang, in trade worth 125 million baht.

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Ref:
http://www.bangkokpost.com/business/news/1085440/bcpg-sets-price-of-10-baht-
apiece-for-listing-shares

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com