BGRIM Sees No Impact from ADB’s Allocation, Advancing in Domestic and Overseas Expansions

Mrs. Preeyanat Soontornwata, President of B.Grimm Power Public Company Limited (BGRIM) has revealed that, due to the disposal of shares of Asian Development Bank (ADB) in BGRIM in the amount of 68,000,000 shares or 2.6% (from 123,000,000 shares or 4.72% of BGRIM stake). This transaction is in line with ADB’s internal company policies and rights of shareholders, which BGRIM has yet to acknowledge about the said issue, and also as a part of an operation management and portfolio adjustment in order to further invest in BGRIM projects such as the issuance of green bonds, worth 5,000 million baht, the solar projects in Vietnam and future projects.

In addition, BGRIM affirmed this disposal of shares has no-effect on the company operation as ADB is a shareholder in term of passive investor and the firm’s fundamental remains strong. BGRIM has planned to proceed its investment for business expansion both domestic and overseas. As of present, BGRIM has 47 projects that already commenced the COD with a total installed capacity of 3,019MW, together with several ongoing project with an installed capacity totaled 3,547MW