Correction: EGCOMP clarifies on fund rasing to buy Khanom po

The Nation would like to correct the previous report of EGCOMP as follows: Electricity Generating Plc (EGCOMP), clarifying on a published report, said that its subsidiary, Khanom Electricity Generating Co Ltd, is working on a plan to raise fund to cover its Bt12 billion debt by issuing debt instruments and securing loans from both domestic and overseas sources. The parent company said it is also working on a separate plan for the second round of public offering which would raise its capital by about Bt4 billion. The two fund-raising plans under consideration were mentioned in the context of EGCOMP's plan to have Khanom Electricity Generating Co Ltd buy Khanom Power Plant. EGCOMP was clarifying on a report published by Prachachart Turakij, dated June 26-28, 1995, which said that EGCOMP would raise fund from issuing debt instruments and domestic as well as overseas loans to cover the Bt12-billion debt. According to the newspaper report, EGCOMP will issue the debt instruments, coupled with seeking loans from domestic sources, to raise some Bt7-8 billion. It was also aiming at securing about Bt2.5 billion in loans from overseas sources to help cover the debt. In its clarification, EGCOMP said that the plan to issue the debt instruments and secure loans belong to the subsidiary, and not EGCOMP. It added that the plan has to be proposed to Khanom Electricity Generating Co Ltd's board of directors for approval at its meeting on June 29, 1995. As regards the public offering reported by the business periodical, EGCOMP said that the company is waiting for the result of a study by its financial adviser on the fund-raising method which, according to the plan , would increase its capital by about Bt4 billion. The result will be put to EGCOMP's board of directors for consideration and approval at a meeting on June 29, 1995. EGCOMP said it would inform the SET of the results afterwards. Corrected by The Nati