B.Grimm Power Public Company Limited (SET: BGRIM) published its announcement of establishment of a new associate company via the Stock Exchange of Thailand (SET).
B.Grimm Power Public Company Limited (SET: BGRIM) stated that on 7 December 2023, the company had established a new associate company named Xekong 4 Power Co., Ltd., a company incorporated under the law of Lao People’s Democratic Republic (Lao PDR), with the shareholding proportion of 20% of the registered capital with the investment of LAK 3,276.60 million (equivalent to THB 5.6 million approximately).
The registered capital of LAK 16.383 million were divided into 163,830 ordinary shares with par value of LAK 100,000 per share, as the source of funds came from B.Grimm Power’s working capital
Shareholding proportion were divided for 3 companies as follows;
- 20% of shares were held by B.Grimm Power (SET: BGRIM)
- 60% of shares were held by RATCH Group Public Company Limited (SET: RATCH)
- 20% of shares were held by Lao World Engineering and Construction Co., Ltd.
The purpose of this establishment was to develop and operate the Xekong 4A and 4B Hydroelectric Power Projects with an installed capacity of 355 megawatts, located in Xekong Province, Lao PDR.
