Thai PTT power unit aims to raise US$340m from IPO in May

[BANGKOK] Global Power Synergy Co (GPSC), the flagship power unit of PTT Pcl, Thailand's top energy firm, plans to raise about 11 billion baht (S$456.5 million) from an initial public offering in May, an executive said on Monday.

The offer period is set for May 7-12 and shares are expected to begin trading on May 18, Varah Sucharitakul, executive director of Finansa Group, one of the financial advisers, told reporters.

IPO prices, to be fixed in late April, will be discounted to an estimated fair value of about 30-35 baht per share, Mr Varah said.

REUTERS