IRPC Extends the Gain with 5-Year Strategic Plan to Support Future Projects

The share price of IRPC Public Company Limited (IRPC) rose ฿0.08/share or 2.07% at the open on Friday, extending its gain from yesterday to trade at ฿3.94/share.

 

Earlier, its Board of Executive Officers approved a  5-year external fundraising plan (2021-2025) to be used for investment and/or working capital in Baht or USD currency equivalent to 50,000 million baht over the five years period.

 

The plan will support 7 development projects – Strengthen IRPC project, Reliability Improvement project, Ultra Clean Fuel (UCF) project, Infrastructure and Asset project, NOAH cost-saving project, Specialty Product project, and M&A under Galaxy project.

 

Maybank Kim Eng (Maybank) maintained a “BUY” recommendation on IRPC with a target price of ฿4.50/share on a potential value play, seeing an outperformance when market rotates back into the energy sector.