SSP GEARED UP FOR IPO THIS YEAR
Sermsang Power Corporation Public Company Limited (SSP) filed to go public by the end of 2017 under Market for Alternative Investment. Kasikorn Securities is the financial advisor of SSP. The Securities and Exchange Commission has approved SSP an initial public offering (IPO) of more than 276 million shares. The shared issued will be 30% of SSP’s post IPO paid-up ordinary shares.
Currently, SSP has an operational 40-MW solar farm of small power producer scale in Lopburi, Thailand since February 2015 and a 17-MW solar farm project in Hokkaido, Japan under construction and is expected to operate by the first quarter of 2018.
Mr. Varut Tummavaranukub, Chief Executive Officer of SSP explained that we are a new generation of management who are capable of adapting and thriving under competitive and ever changing market conditions. SSP is able to stay ahead of competitions by venturing into new markets to capitalize on first-mover advantage. With an absolute goal of 200 MW by 2020, SSP has been doing due diligence on multiple projects across Asia, including solar rooftop opportunities. SSP plans to grow by developing projects organically and acquiring projects that have passed through rigorous evaluation process.