B.Grimm Power hoping for more Thai IPO electricity

The country's oldest power producer hopes to replicate other recent Thai utility successes, despite a relatively weak broader market backdrop and mildly rich pricing.

B.Grimm Power hoping for more Thai IPO electricity

B.Grimm Power, Thailand’s oldest electricity company, launched the country’s third internationally marketed initial public offering this year on Tuesday, looking to extend the recent strong track record in Thai utility deals in spite of relatively rich pricing.

Indicative terms show that the Bangkok-headquartered power producer is targeting Bt9.8 billion to Bt10.8 billion $288 million to $316 million from the sale of 651.8 million new shares on a pre-greenshoe basis. The maximum proceeds could...

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