GULF Energy Development Plc and Humanica Plc will start trading on the Stock Exchange of Thailand on December 6 and December 8 respectively.
They plan to utilise the new capital in investments for business growth next year.
Gulf Energy Development Plc’s Chief Executive Officer Sarath Ratanavadi said the company will debut on the SET tomorrow (Decemebr6), following its initial public offering (IPO) of 533.30 million shares at Bt45 per share from its par value of Bt5 per share.
The company will spend on the construction of an electricity plant from natural gas and biomass with a combined production capacity of 6,353.6 megawatts by the year 2024, he said.
Currently, the company has a total electricity production capacity of 4,772.1 megawatts from natural gas and solar rooftop system.
Gulf Energy’s register capital stands at Bt10.7 billion, comprising 2.1 billion ordinary shares with a par value Bt5 each.
In the first nine months of this year, the company reported total revenue of Bt2 billion, up sharply from Bt156.2 million in the same period of last year.
Humanica Plc’s chief executive officer Sunthorn Detham said that the company’s first day of trade on the Stock Exchange of Thailand will December 8 after the sale of 180 million IPO shares Bt4 per share from its par value of Bt0.50 each.
The company will use the new capital for its move to a new office, to develop its information technology system and to set up a learning centre, he said.
In the first half of this year, the company reported total revenue of Bt234.11 million with Bt37.08 million in net profit.
Stock Exchange of Thailand’s Executive Vice President Santi Karanand said recently that the number of IPO deals could hit 39 by the end of this year.
It has been a busy year for IPOs this year, not just in Thailand, but also other Asean countries such as Malaysia, Singapore, and Indonesia.
However, Thailand remains the IPO leader in Asean, thanks to the hard work of related parties such as financial advisers, auditors, and regulators during the stagnant years, Santi said.
The SET expects the market capitalisation of IPOs to reach Bt280 billion in 2017, with the market cap of secondary public offerings forecast to hit Bt270 billion, he said.