CK, Amata plan debut of holding firms

CK, Amata plan debut of holding firms

CK Power (CKP) and Amata VN (AMATAV) will emerge as the first two holding companies operating abroad on the Stock Exchange of Thailand when they list by June.

Regulators amended listing rules last August to facilitate the listing of holding companies with main businesses abroad. The amendments include the reduction of the minimum stakeholding that a holding company must invest in its main business to 50% from 75% in order to facilitate joint ventures with foreign firms.

CK Power (CKP), a subsidiary of the construction firm Ch. Karnchang Plc (CK), will float 220 million shares at five-baht par through an initial public offering (IPO). Of the total, 180 million shares will be newly issued and the rest held by existing shareholders.

The company plans to list on the SET from May to June.

Supamas Trivisvavet, managing director of CKP, said the company will list on the holding sector, the newest category on the SET.

CKP's steady income from the Nam Ngum 2 hydroelectric power plant in Laos would attract investors' interest.

The fund from the IPO will be spent on the Xayaburi hydroelectric power plant, which has total capacity of 1,250 megawatts.

Amata VN (AMATAV), a subsidiary of SET-listed Amata Corporation Plc (AMATA), will also sell 140 million IPO shares with a par value of 10 satang during the same period.

Somhatai Panichewa, CEO of Amata VN, said the company would be the first holding firm to seek listing on the SET.

AMATAV operates an estate on a 1,245-hectare plot in Vietnam under a 55-year lease. The land will be split equally between an industrial estate and a commercial project.

Meanwhile, G Capital Plc, which leases agricultural machinery, plans to float 50 million shares at the par value of 50 satang and seek listing on the Market for Alternative Investment (MAI).

PTG Energy, the gas supplier under the PT brand, plans to float 420 million IPO shares at the par value of one baht by the third quarter (see story on Page B4).

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