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

BCPG Pcl, the solar power unit of Thai oil refiner Bangchak Petroleum Pcl, could raise up to $170 million from an initial public offering this month, the company said on September 6. 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. The final price is expected to be fixed early next week, said Manpong Senanarong, managing director of Kasikorn Securities, a lead underwriter of the IPO.

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