Wave Entertainment to sell 10% stake in Thai Solar Energy

Wave Entertainment to sell 10% stake in Thai Solar Energy

Thai TV programmes producer Wave Entertainment PCL (BKK:WAVE) said today has
received board clearance to divest an up to 10% stake in local solar power
company Thai Solar Energy Co Ltd (BKK:TSE).

Wave Entertainment will sell the TSE interest, comprised of 181.50 million
shares, for THB 4.85 apiece or a total of THB 880.3 million (USD 25.2m/EUR
22.7m) in cash to Sino Thai Engineering and Construction PCL (BKK:STEC).

The seller will use the proceeds to partially pay back a loan, expand its
business and for working capital, it said. Following this transaction Wave
Entertainment will continue to hold 181.75 million TSE shares corresponding
to a stake of 10%.

In September, Thai Solar Energy said it had decided to expand its renewable
energy portfolio by investing in the construction of biomass power plants
with a combined capacity of 22.2 MW.

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Ref:
https://renewables.seenews.com/news/wave-entertainment-to-sell-10-stake-in-t
hai-solar-energy-545494

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com