Superboard approves Egat's infrastructure fund plan
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The Superboard of state enterprises yesterday agreed to allow the launch of a Bt20-billion infrastructure fund for the Electricity Generating Authority of Thailand (Egat), making this the first fund to be launched by a state enterprise.
The fund is expected to submit its initial public offering (IPO) application to the Securities and Exchange Commission by the year-end, Kulit Sombatsiri, director-general of the State Enterprise Policy Office, said after meeting the State Enterprise Policy Commission or the Superboard.
“It will be backed by income for over 20 years from Egat’s North Bangkok power plant,” he said, adding the IPO will open for subscription within the first quarter of next year.
Kulit said Airports of Thailand and Expressway Authority of Thailand would launch similar funds.
“Initially, the yield rate will be about 5 per cent annually,” Kulit added, saying his office would hold talks with the SEC about the launch of infrastructure funds and their size.
