Energy Absolute Surges on Plan to Sell $446 Million Shares
- Company is in talks with potential “strategic partners”
- Deal is expected to complete by the end of March next year
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Energy Absolute Pcl shares jumped as much as 15% after it announced plans to raise as much as 15 billion baht ($446 million) to shore up its finances and restore investor confidence hurt by an ongoing fraud probe by regulators.
The Bangkok-based renewable energy company is in talks with several potential domestic “strategic partners” for a private share offering of between 12 billion baht and 15 billion baht, Chief Financial Officer Vasu Klomkliang said in an interview on Thursday. It aims to complete the transaction by the end of the first quarter in 2025, he said.