Shearman & Sterling advised B. Grimm Power Public Company Limited in connection with its US$340 million initial public offering and listing of its shares on the Stock Exchange of Thailand (SET).
CIMB Securities (Singapore) Pte. Ltd. and Deutsche Bank AG, Hong Kong Branch acted as the joint international coordinators, bookrunners and lead managers. Bualuang Securities Public Company Limited, Kasikorn Securities Public Company Limited and Phatra Securities Public Company Limited were the joint domestic coordinators, bookrunners and lead managers of the offering.
B. Grimm Power is a Thailand-based energy company with a focus on the development, construction and operation of greenfield power plants. It is also one of the largest private power producers in Thailand in terms of small power producer operators by installed capacity.
Shearman & Sterling’s Asia capital markets team has a successful track record advising on high-profile Thailand IPO offerings, including our representation of the underwriters on Bangkok Airways’ US$450 million IPO in 2014, Star Petroleum Refining Public Company Limited’s US$363 million IPO in 2015 and the underwriters on Jasmine Broadband Internet Infrastructure Fund’s US$1.685 billion IPO in 2015.
The Shearman & Sterling team was led by partner Andrew Schleider (Singapore-Capital Markets), with support from associates Jeremy Wang (Singapore-Capital Markets) and David Wallace (Hong Kong-Capital Markets).