Gulf banks on Vietnam investment
published : 15 Jan 2021 at 04:00
Gulf Energy Development Plc, Thailand s top private power producer by capacity, plans to rack up more revenue this year through its investment expansion in Vietnam by acquiring 70.5% of ordinary shares in Global Mind Investment Management Pte (GMIM) in a deal worth US$40 million, or 1.2 billion baht.
The stock purchase from Nech Opportunities Fund VCC is made through Gulf s wholly-owned Kolpos Pte, which was incorporated in Singapore but runs businesses in Vietnam, Gulf said in a letter to the Stock Exchange of Thailand yesterday. We expect the asset transfer and payment to be completed by the end of January, said Gulf executive and chief financial officer Yupapin Wangviwat.