Thai warehouse operator WHA Corporation is pitching an initial public offering of its water treatment business to investors as it seeks to raise fresh capital to cut a massive debt load that has weighed heavily on its share price.
Premarketing for the Reg S deal started on Wednesday and, while it expects to sell the majority of shares domestically, WHA has also arranged investor meetings outside of Thailand, bankers familiar with the situation told FinanceAsia.
The company is targeting about Bt5.5 billion $150 million for a 30% stake in WHA Utilities and Power as it looks to make a dent in the...
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