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.
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