Thai refiner Bangchak's solar unit IPO to raise up to $170m

Thai refiner Bangchak's solar unit IPO to raise up to $170m

Photo: Pixabay

BCPG Pcl, the solar power unit of Thai oil refiner Bangchak Petroleum Pcl, could raise up to 5.9 billion baht ($170 million) from an initial public offering this month, the company said on Tuesday.

BCPG is planning to sell 590 million shares, or a 29.6 percent stake, in the offering. The stock is expected to be priced within a range of 9.8 to 10.0 baht per share, the company said in a statement.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter