Major independent power producer gears up for IPO of 533 million shares
Gulf Energy Development, one of Thailand’s largest independent power producers, is preparing for its initial public offering (IPO) of up to 533.30 million shares, after receiving approval from the Securities and Exchange Comission.
The shares are expected to be registered on the Stock Exchange of Thailand by the end of this year.
The management is confident that with the company’s operational capability and potential, it will be able to meet the constantly increasing demand of electricity consumption in Thailand. The company's president Porntipa Chinvetkitvanit said GULF is a holding company with a portfolio of electricity, steam and chilled water generating power projects and other related businesses.
The company operates gas-fired power projects and rooftop solar projects with a total installed capacity of 4,772.1 megawatts as of November 1, 2017.
GULF’s financial advisers, namely, Kasikorn Securities Public Company Limited, The Siam Commercial Bank Public Company Limited and Bualuang Securities Public Company Limited, revealed that the Office of the SEC had approved GULF’s application for the initial public offering (IPO).
The IPO proceeds will be used to fund the company’s equity contributions and provide loans to its subsidiaries and associates and other companies as well as to invest in its future projects.
The balance will be used for repayment of loans to commercial financial institutions, redemption of debentures and/or bills of exchange issued by the company and for the group’s working capital and other general corporate purposes.
Currently, GULF’s registered capital stands at Bt10.666.50 billion, comprising 2,133.30 million of ordinary shares at a par value of Bt5 each.
The authorised and paid-up capital stands at Bt8 billion, comprising 1,600.00 million of ordinary shares. The IPO of up to 533.30 million shares represents up to 24.99 per cent of the company’s post-IPO authorised and paid-up capital.
Maserati sets up Bangkok showroom, aims to double sales
Maserati Thailand invested Bt150 million to build a showroom in Bangkok in preparation for future sales growth.
Piyathep Sivakas, general manager of Maserati Thailand (represented by Design Motorwork Co Ltd, said Maserati aims to double sales in 2018, thanks to the additional sales and service outlet. The new showroom is located at A-Square Sukhumvit 26.
“We are preparing to launch the Maserati Levante S sport-utility vehicle at the Motor Expo in order to expand our product lineup,” he said.
The Levante S is powered by a 3.0-litre V6 with 430hp and can accelerate from 0-100km/h in just 5.2 seconds.
Maserati is also currently offering a 3-year/60,000km warranty and free maintenance package.
