By Reuters Staff
2 Min Read
BANGKOK (Reuters) - Share prices for Thai Oil Pcl dropped on Friday after the Thailand oil refiner announced plans to offer new shares and sell stakes in a subsidiary to finance a $1.2 billion investment in Indonesia’s Chandra Asri Petrochemical TBK PT.
Shares in Thai Oil fell 10% in Friday’s morning trading session at 05:00 GMT along a 1% decline in the benchmark index.
“In recapitalisation, there will be an equity offering of 10 billion baht ($304.04 million),” the company’s Executive Vice President of Finance Wanida Boonpiraks told reporters on Friday.
Thai Oil would also sell stakes in electricity firm Global Power Synergy Pcl for 20 billion baht to parent firm, PTT Pcl, she said.
Thai Oil shares fall on financing plans for US$1.2 billion Indonesia acquisition Toggle share menu
Advertisement
30 Jul 2021 03:45PM Share this content
Bookmark
BANGKOK: Share prices for Thai Oil Pcl dropped on Friday after the Thailand oil refiner announced plans to offer new shares and sell stakes in a subsidiary to finance a US$1.2 billion investment in Indonesia s Chandra Asri Petrochemical TBK PT.
Shares in Thai Oil fell 10per cent in Friday s morning trading session at 05:00 GMT along a 1per cent decline in the benchmark index.
Advertisement
Advertisement In recapitalisation, there will be an equity offering of 10 billion baht (US$304.04 million), the company s Executive Vice President of Finance Wanida Boonpiraks told reporters on Friday.
Thailand’s PTT buys $453 mn stake in India’s Avaada Energy Daily News (via HT Media Ltd.)
Global Power Synergy Pcl, the listed power unit of Thailand’s state-owned PTT Group, has acquired a stake in Indian renewable energy provider Avaada Energy Pvt for about 14.8 billion baht ($453 million).
Global Power completed the purchase of about 41.6% stake in Avaada through subscription of new shares, the company said in a statement late Tuesday, confirming an earlier Bloomberg News report. The transaction aligns with the firm’s international growth strategy in renewable energy, it said.
The deal comes within days of PTT Global Chemical Pcl, another of PTT Group’s listed units, agreeing to acquire Allnex Holding GmbH, a European specialty chemicals maker owned by private equity firm Advent International, for 4 billion euros ($4.75 billion). PTT Global’s Allnex purchase could be the biggest overseas acquisition by a Thai company since Thai Beverage Pcl’s tak
By Reuters Staff
2 Min Read
BANGKOK (Reuters) - Thai energy company, Global Power Synergy Pcl (GPSC), on Thursday said it had acquired a 25% stake in a Taiwanese offshore wind farm for $500 million.
The deal comes a day after it announced a $453 million investment in a solar project in India.
“The Changfang and Xidao (CFXD) project will be installed in two phases. The first 96 MW (megawatt) phase is expected to achieve first power in 2022 and the second 499 MW phase in 2023,” GPSC chief executive Worawat Pitayasiri said.
The Thai firm bought the shares of the CFXD wind farm from Copenhagen Infrastructure Partners, which will remain majority shareholder.
Thai Firm GPSC Buys Stake in Taiwanese Offshore aogdigital.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aogdigital.com Daily Mail and Mail on Sunday newspapers.