BCPG
BCPG plans to invest in hydro, wind, geothermal and biomass with finalization by the end of 2017 and the beginning of 2018 with targeted IRR of 12-15%. It is also in the process of studying an “Internet of Energy” and finding foreign partners to join. It expects market capitalization to reach Bt50-60bn by the end of 2022. (Khao Hoon, 13/9/17)
Comment: And they have been executing on their plans since the company was formed, I wouldn’t bet against them
ICN
ICN sold all 120mn IPO shares priced at Bt1.84/share. It will begin trading on mai on Sep 15. It says the IPO funds of Bt220mn will be used as working capital and for future investment for business growth. (Khao Hoon, 13/9/17)
Comment: The formula remains the same, small co + small float = good/great first day 
MBK
MBK plans to open presales for the 25-unit Bt332mn Park Riverdale phase2 in 4Q17. It is progressing with the improvement of rental areas in MBK Center and expects to be able to increase rents next year. It will pay a dividend of Bt0.33/share, XD on September 19. (Thun Hoon, 13/9/17)
NOK
THAI plan for Nok Air. THAI has drawn up a plan for NOK and its management has been reviewed, THAI chairman Areepong Bhoocha-oom said. Its chairman has already stepped down and major shareholders with a combined stake of 40% will discuss the issue of replacement. THAI will also hold talks with this group of shareholders for solutions to NOK’s problems. The THAI board has decided to raise Nok Air’s capital in the next two to three months. NOK He viewed NOK as being sustainable with the cabin factor of 80%. However, prices and costs must be improved. ( The Nation , 13/9/17)
Comment: The solution to NOK’s problems? Easy new management, no Thai airway’s connection, why not just sell to AirAsia for a 1 baht? 
ORI
ORI plans to launch 28 projects worth Bt30bn, with 8,000 units. It expects 3Q17 presales to reach Bt5bn and for 2017 presales to reach the target of Bt14bn. It expects 2017 revenue to increase to Bt9bn. ( Thun Hoon, 13/9/17)
PLANB
PLANB is entering high season. It expects 2H17earnings to reach Bt283mn as many clients have booked ads. Utilization rate has risen to 70%. (Khao Hoon, 13/9/17)
PTTGC
PTTGC has released its new 5-year, Bt130bn investment plan. It plans to partner with Toyotatosho, Sunyochemical, Kurare and Sumimoto to expand its businesses. (Khao Hoon, 13/9/17)
PYLON
PYLON is benefitting from improvement in the private sector in 2H17 and expects to get new projects from the government at the beginning of 2018. It has backlog of Bt550mn which will be booked this year and is in the process of submitting a bid for a new project worth Bt2bn. (Khao Hoon, 13/9/17)
Comment: I still don’t understand why would it trade at such a high multiple, regardless a good company with good management in an industry that is going to continue growing for the foreseeable future. 
SKN
SKN’s IPO price is Bt7.35/share. It said institutional investors have oversubscribed by 15 times. Shares will be opened for subscription between September 15 and 18-20 and traded in the market on September 26. It says the price is suitable for its fundamentals and investors have shown good response. (Thun Hoon, 13/9/17)
Comment: See ICN
  1. Surprising not much price action on Demco today given the WEH news. Perhaps the market have grown wary of the repeated WEH IPO timeline delays. When we see the official IPO filing then We will see some fireworks.

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