WHAUP Organizes IPO Roadshow for International and Local Institutional Investors, Showcasing its Leading Integrated Utilities and Power Potential

Bangkok, 27 February 2017 - WHA Utilities and Power PLC. (WHAUP), the leading fully-integrated utilities and power business provider, has organized the IPO roadshow for local and international institutional investors (Hong Kong – Singapore) from mid-February to early March. The company will then continue a roadshow for individual investors in the mid of March before an initial public offering of up to 229.5 million shares to move forward its leadership in the utilities and power sectors. Mr. Wisate Chungwatana, WHAUP's Chief Executive Officer said that the company will use fund raised from the IPO to expand local and international business to strengthen its potential in driving future growth.

Mr. Wisate Chungwatana, Chief Executive Officer, WHA Utilities and Power PLC. (WHAUP), the provider of fully integrated utilities services in Hemaraj’s industrial estates and industrial lands, including raw water, process water, clarified water, wastewater treatment and power business in Thailand and overseas, said the company has organized the IPO roadshow for local and international institutional investors in Hong Kong and Singapore since the mid of February and will continue until beginning of March.

Roadshow for individual investors will then follow in the mid of March. WHAUP, together with Siam Commercial Bank PLC., its financial advisor, Siam Commercial Asset Management Co., Ltd., its lead underwriter and CLSA (Thailand), its underwriter for foreign institutional investors will provide WHAUP’s corporate information and business plans to interested investors to build good understanding of its business prior to the IPO. Out of the total 229.5 million shares, 125 million new shares will be offered for public subscription together with 104.5 million existing shares of H-International (SG) Pte. Ltd.

“The fund raised from the IPO will be invested in power projects and some will also be used for loan payment to financial institutions as well as working capital.” Mr. Wisate added.

WHAUP has planned to expand its public utilities business and offer more variety products and services in the future, in response to customers’ demands and expand its customer base. Such new services include water for other potential areas outside industrial estates, to cover both local and international market. In addition, WHAUP plans to invest in other utilities including gas distribution pipelines and waste-to-energy. In preparation for new businesses, WHAUP has secured the first right to invest in those services at Hemaraj’s industrial estates and industrial lands.

In the energy sector, WHAUP plans to develop renewable power projects, focusing on solar energy by leveraging over-2-million-square-meters rooftop of WHA Group ready-to-rent factories and warehouses. In the meantime, the company also explores feasibility of other alternative power plants such as wind energy. Moreover, the company is developing Waste-to-Energy project through WHA Energy Ltd, a WHAUP subsidiary, by tieing up with Glow and Suez to invest in Eastern Seaboard Clean Energy Ltd. with a 33.33% stake. WHAUP also invested in a VSPP project of Chonburi Clean Energy that was chosen by the Energy Regulatory Commission in October 2016 to sell 6.90 megawatts electricity produced from industrial waste with an installed capacity of up to 8.63 megawatts to the Provincial Electricity Authority, during a 20-year period.

Ms. Veena Lertnimitr, Executive Vice President, Primary Distribution, Siam Commercial Bank, said during a roadshow, WHAUP and Siam Commercial Bank focus on providing investors with corporate information, types of business, financial status and capability to generate profits in an attempt to expose WHAUP’s strengths to investors to build their trust in WHAUP’s investment and potential growth.

WHAUP IPO roadshow has been very well received by investors, part of the reason is the company is the subsidiary of the well-established WHA Corporation PCL. or WHA Group that has been popular among investors. WHAUP is the only company to receive the 50-year exclusive right to operate water utilities in Hemaraj’s industrial estates and industrial lands. It currently provides these services in six industrial estates and two industrial lands operated by Hemaraj with a combined area of 24,000 rai. Besides, its power business is successful with outstanding revenue and growth from currently operating 13 power plants including alternative energy, with the company’s equity share of 349.55 megawatts. Thus, WHAUP is quite dominant paradigm of those recurring income and growth in both utilities (water) and power business.