Ch. Karnchang Plc (CK), Thailand's third-largest contractor by market value, plans to list its holding company CK Power Ltd on the London Stock Exchange eight years from now after its Xayaburi project in Laos is operational.
Chairman Thanong Bidaya said the offshore listing is to mobilise funds for business expansion, especially for power projects in the Greater Mekong Subregion.
CK plans a dual listing for its holding power company, which next year will float shares on the Stock Exchange of Thailand, raising funds for investing in power projects over the next several years.
Dr Thanong said power projects are quite costly and mobilisation of funds through public listing is a suitable option.
The asset value of CKP is about 30 billion baht, although it could reach 200 billion in the near future, making it a more interesting option for London investors. Many firms from Asia go to London for fundraising, he added.
CK foresees potential projects in Indonesia and the Philippines.
Shares of CK closed yesterday on the SET at 8.55 baht, up five satang, in trade worth 30.9 million baht.