Thailand-based oil refinery Bangchak Petroleum PLC (BCP) plans to list its renewable power generation arm BCPG Co Ltd on the Thai stock exchange next year by offering 30 per cent of the company’s registered capital in the initial public offering (IPO).
After the Board’s meeting today, BCP president Chaiwat Kovavisarach said Post IPO, the proceeds will be used to expand its business. The firm is targeting boosting power generation to 500 MW by 2020 and it intends to take the acquisition route both in local and overseas markets to achieve the same.
“We are considering acquiring 30 per cent stakes in a 30 MW geothermal power plant in Malaysia. We are also interested in geothermal power plants in Indonesia,” he said.
After the Board’s meeting today, BCP president Chaiwat Kovavisarach said Post IPO, the proceeds will be used to expand its business. The firm is targeting boosting power generation to 500 MW by 2020 and it intends to take the acquisition route both in local and overseas markets to achieve the same.
“We are considering acquiring 30 per cent stakes in a 30 MW geothermal power plant in Malaysia. We are also interested in geothermal power plants in Indonesia,” he said.