The Banpu Public Company and Banpu Power Company have sold their stakes in Thailand’s Ratchaburi Electricity Generating Holdings, raising a combined Bt6.68 billion $223 million. The sale was completed after the Thai market closed yesterday and, according to a banker, marked the largest ever overnight placement in Thailand.
The deal came as most Asian markets ended a four-day losing streak and headed higher again, although Ratchaburi’s defensive nature as an electricity producer offering a steady income and a high yield may also have attracted investors precisely because the equity market outlook has become a bit more uncertain over the past couple of weeks. Thailand is also the second best performing stock market in Asia...
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