The year-end holiday season is seeing a last-minute flurry of initial public offerings, with a number of companies and funds lining up to go public this month.
Power Solution Technology Co, an electric power supply total integrated solution and environment management, has priced its 450 million IPO shares at 65 satang each to raise 292.5 million baht.
The subscription period runs from today until Friday, while the stock is slated to debut on the MAI on Dec 19.
Proceeds will be used to fund a 990-kilowatt biomass power plant worth 33.3 million baht and for working capital, chief executive Pranai Kungwalrut said.
Eastern Polymer Group (EPG), Thailand's leading polymer holding company, plans to list on the SET this month, allocating 700 million IPO shares to the public. Funds will finance its 2-billion-baht production capacity increase and expansion of its foreign distribution networks.
The IPO price has not been set, but research houses for its underwriters have a target price from seven to 7.50 baht. Siam Commercial Bank is the financial adviser of EPG. SCB Securities, Maybank Kim Eng Securities (Thailand), Capital Nomura Securities and Buluang Securities are underwriters.
The Ticon Freehold and Leasehold Real Estate Investment Trust has allotted 342.5 million units for its IPO from Dec 8-11 to mobilise 3.43 billion baht.