June 7, 2013 / 7:07 AM / 4 years ago

Two Thai power firms plan $383 mln infrastructure funds

BANGKOK, June 7 (Reuters) - Two Thai power firms plan to raise a combined 11.7 billion baht ($383 million) via an offering of separate infrastructure funds in the second half of this year, a financial source close to the deals said on Friday.

The two are Amata B. Grimm Power Group, which is 30 percent owned by Japan's Sumitomo, and solar farm producer SPCG Pcl.

Amata B.Grimm has submitted a filing to the Securities and Exchange Commission and plans to raise 6.5-6.7 billion baht from its offering in the third quarter of 2013, the source with direct knowledge of the deal told Reuters.

The company planned to use the proceeds to finance expansion of its 2,000 megawatt power plants.

Amata B.Grimm Power is 56.23 percent owned by B.Grimm Group, a diversified business group founded by German pharmacist Bernhard Grimm in Bangkok in 1878. Thailand's largest industrial estate developer, Amata Corp, owns 13.77 percent of the company.

SPCG, which has said it planned to invest 10 billion baht in its solar farm business this year, aimed to raise at least 5 billion baht from selling units of an infrastructure fund to the public, the source said.

The success of a $2.13 billion infrastructure fund IPO from BTS Group Holding Pcl has encouraged several Thai companies to offer similar funds to the public.

Telecoms group True Corp is also considering a launch. ($1 = 30.5400 Thai baht) (Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Alan Raybould)

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