EA makes successful debut
Energy Absolute (EA) today made a successful debut on the Market for Alternative Investment, as its share price gained 44.55 per cent over the initial public offering price.
At 3.20pm, it was traded at Bt7.95, above the IPO price of Bt5.50.
EA, a producer and distributor of biodiesel, diesel, and glycerine and an operator of solar power plants, is the first company to start share trading this year. Its solar plants are expected to open for commercial in 2015 with a full capacity of 278 megawatts.
During Jan 21-23, the company sold 560 million shares in the IPO, having Asset Pro as the financial advisor.
"It is our honour and pleasure that the company will list on MAI, helping build the company’s image and financial strength. Fundraising proceeds will be used to build a 90-megawatt solar power plant in Nakhon Sawan and for working capital," said Somphote Ahunai, CEO of the company.