Thailand's oil retailer Bangchak to list renewable power unit in September to October

30% stake will be up for grabs.

Thailand's second-largest oil retailer, Bangchak Petroleum Pcl, plans to list shares of its renewable power unit BCPG on the Stock Exchange of Thailand during September and October, a top executive said on Tuesday.

Bangchak will offer up to 600 million new shares, or a stake of 30 percent, to the public, and the stock market regulator has approved the listing plan, President Chaiwat Kovavisarach told reporters. He gave no details about the value of the IPO.

BCPG operates solar power plants with a total capacity of 118 megawatts (MW) in Thailand and 164 MW in Japan. The company has said it aims to boost total capacity to 500 MW in 2020.

The company plans to hold a roadshow to promote the IPO later this month, one of its financial advisers told Reuters on condition of anonymity, because he was not authorised to speak to the media.