Friday, March 05, 2021

B Grimm chairman buys back 2m shares after energy deal

Jan 22. 2021
Harald Link
Harald Link
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By The Nation

Harald Link, chairman of B Grimm Power Group (BGRIM) has bought back 2 million company shares for Bt139 million at Bt69.50 per share, according to Securities and Exchange Commission (SEC) information.

BGRIM’s December share price was Bt48.50, down 1.52 per cent, after ranging between Bt47.25 and Bt53. This month it has risen 12.63 per cent to Bt53.50, ranging between Bt47.50 and Bt56.

On January 12, BGRIM announced it had invested 45 per cent in Univenture BGP (UVBGP), a subsidiary of SET-listed property developer Univentures Plc (UV), with the aim of investing, developing and operating energy projects together with UV.

BGRIM acquired 2.25 million newly issued ordinary shares in UVBGP at a subscription price of Bt10 per share, totalling Bt22.5 million.

BGRIM and UV now hold 45 per cent and 55 per cent, respectively, of the total number of voting shares in UVBGP.

BGRIM currently operates 48 power plants with total capacity of 3,058MW and plans to raise that figure to 7,200MW by 2025.

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