HomeWorld RegionsAsiaNext capital increase not needed for Thailand plant

Next capital increase not needed for Thailand plant

BANGKOK, Thailand, Nov 01, 2000 (Bangkok Post)à‚–Ratchaburi Holding, operator of the Ratchaburi power plant, has scrapped a plan for a further capital increase of two billion baht to pay for the transfer of the plant’s second and third thermal units.

President Boonchoo Direksatapon said the decision stemmed from a forecast that operating profit in 2001 would be a healthy three billion baht.

The company’s operating profit is projected to increase steadily after 2001, and accumulated profits would be sufficient to pay for further transfers of assets, he said.

Ratchaburi Holding yesterday held a signing ceremony with the Electricity Generating Authority of Thailand to transfer the first unit of the thermal plant worth 30.4 billion baht, with a capacity of 1,470 megawatts.

The second unit at the country’s largest power plant is scheduled to be transferred in August next year, and the third unit in April 2002.

Shares of Ratchaburi Electricity Generating Holding Co are to begin trading on the Stock Exchange of Thailand tomorrow, raising the bourse’s total market capitalisation by 18.85 billion baht.

Shares will be traded under the RATCH symbol in the energy sector. Total registered capital of the firm is 14.5 billion baht, ranking it 14th among all SET-listed companies.

The company placed 580 million shares in an initial public offering at 13 baht per share last month. Vicharat Vichit-Vadakarn, the SET president, said the Ratchaburi listing would benefit the entire market and improve investor sentiment.

“Listing RATCH on the exchange enhances the liquidity for the company’s shareholders, makes any future corporate fund mobilisation more convenient, and will draw greater investor attention to trading on the SET,” Mr Vicharat said.

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