Thailand: TPI Polene Power to raise up to B17bn IPO

Thailand: TPI Polene Power to raise up to B17bn IPO

TPI Polene Power Plc, the country's largest producer of waste-derived power,
plans to raise up to 17.5 billion baht in an initial public offering, 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% stake, at a
rate of 6-7 baht per share, parent firm TPI Polene Plc said in a statement
to the stock exchange on Friday.

Of the total, up to 125 million shares will be offered to TPI Polene's
existing shareholders on March 22-24, and the rest will be sold to the
public on March 24-29, it said.

The power firm has said the sale proceeds will be used mainly to finance
capacity expansion.

TPI Polene Power runs four plants with a total installed capacity of 150 MW.
Two of the plants, with a combined capacity of 80 MW, use fuel derived from
refuse, while the other two generate power from waste heat.

Maybank Kim Eng Securities Pcl, Tisco Bank and CIMB Thai Bank are financial
advisers on the IPO.

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Link to Original Article:
http://www.bangkokpost.com/business/finance/1216557/tpi-polene-power-to-rais
e-up-to-b17bn-ipo

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com