November 9, 2017 / 10:31 AM / a year ago

Thai Gulf Energy Development plans to raise up to $725 million in IPO

BANGKOK (Reuters) - Thai power producer Gulf Energy Development Pcl plans to raise up to 24 billion baht ($725.08 million) in an initial public offering (IPO) to help finance investment and repay debt.

The firm will offer up to 533.3 million new shares at a price between 40 baht and 45 baht, which would raise 21.3 billion to 24 billion baht, it said in a filing to the Securities and Exchange Commission on Thursday.

It plans a roadshow to promote the IPO on Nov. 14, it said.

Kasikorn Securities, Bualuang Securities and Siam Commercial Bank are the financial advisers, the company said.

($1 = 33.10 baht)

Reporting by Pilaiporn Promsompan and Wirat Buranakanokthanasan; Writing by Orathai Sriring; Editing by Sunil Nair

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