B.Grimm Power, Thailand’s oldest electricity company, launched the country’s third internationally marketed initial public offering this year on Tuesday, looking to extend the recent strong track record in Thai utility deals in spite of relatively rich pricing.
Indicative terms show that the Bangkok-headquartered power producer is targeting Bt9.8 billion to Bt10.8 billion $288 million to $316 million from the sale of 651.8 million new shares on a pre-greenshoe basis. The maximum proceeds could reach $348 million if the 10% greenshoe option is fully exercised.
The floatation comes after TPI Polene Power and WHA Utilities and Power both rewarded investors with their respective IPOs earlier...
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