B Grimm Power sets price for IPO shares

Corporate July 08, 2017 01:00

By The Nation

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B Grimm Power has an initial public offering price of Bt16 per share for the stock’s debut on the Stock Exchange of Thailand on July 19.

Chief executive officer Preeyanart Soontornwata said the price was reasonable price and refflected the business’ financial results and outlook for the long term. Preeyanart added that the reasonable pricing would benefit investors wanting to take up the shares.

The company aims to raise Bt11.47 billion from the share sale and use the proceeds to pay back loans worth Bt7 billion. This would reduce its debt-to-equity ration to not more than 2:1. The remaining funds would be spent on business expansion at home and overseas, Preeyanart said.