CK Power announces oversubscribed success with its capital increase, gearing up for leaping growth and new energy projects
Dr. SupamasTrivisvavet, Managing Director, CK Power Plc. (CKP) said that the company’s shareholders, both major shareholder CH. Karnchang Group and individual shareholders, fully supported the company’s capital increase plan with 1,870,000,000 new shares offered to current shareholders at a ratio of 1:0.34 for ordinary share to new ordinary share at a price of Bt 3.00 per share, with a CKP-W1 warrant offered for each share subscribed. The capital increase is highly successful with 2,034 million shares subscribed, over 200 million-share oversubscription during the subscription period from 18 – 22 May 2015.
The proceed of Bt 5,610 million from the capital increase will be used to purchase 30% stakes in the 1,285-MW capacity Xayaburi Hydroelectric Power Plant (XPCL), of which the construction is now 50% complete. The investment in XPCL, apart from increasing CKP’s total power production capacity by over three folds, will enhance the company in becoming a leading hydropower company in the ASEAN region. With more strengthened financial capacity, CKP is ready to develop new power plant projects of several types in Thailand and overseas for a constant growth.
About CK Power
CK Power is a holding company with investment in energy business in Thailand and overseas with focus on diversified product and project portfolio to minimize development and operation risk, including hydro power, solar power and thermal power. The company’s major shareholders are CH. Karnchang Plc. (CK), Bangkok Expressway Plc. (BECL) and Thai Tap Water Plc. (TTW).