clarifies on fund rasing to buy Khanom power plant

Electricity Generating Plc (EGCOMP), clarifying on a published report, said that Khanom Power Plant, which it plans to buy, is working on a plan to raise fund to cover its Bt12-billion debt through the issuance of debt instruments and securing loans from both domestic and overseas sources. It added that it is also studying a plan to launch the second round of public offering in a fund-raising to buy the gas-fired 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 report, EGCOMP will issue the debt instruments and to seek loans from domestic sources in a bid 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 Khanom Power Plant, and not EGCOMP. It added that the plan has to be proposed to Khanom Power Plant'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 on the fund-raising method which would increase its capital by about Bt4 billion. The study is being conducted by EGCOMP's financial adviser and 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. Translated by The Nati