WHA readies water unit spin-off

Thai warehouse operator enters final preparation for a domestic IPO of its water treatment business as it seeks capital to reduce leverage after Hemaraj deal.

Thai warehouse operator WHA Corporation is pitching an initial public offering of its water treatment business  to investors as it seeks to raise fresh capital to cut a massive debt load that has weighed heavily on its share price.

Premarketing for the Reg S deal started on Wednesday and, while it expects to sell the majority of shares domestically, WHA has also arranged investor meetings outside of Thailand, bankers familiar with the situation told FinanceAsia.

The company is targeting about Bt5.5 billion $150 million for a 30% stake in WHA Utilities and Power as it looks to make a dent in the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222