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Tuesday, January 25, 2011

Ratchaburi Holding buys EDL-Gen's 81.11 million shares

(KPL) Ratchaburi Electricity Generation Holding Public Company Limited, Thailand, bought 81.11 million shares of the Electricite du Laos-Generation Public Company (EDL-Gen) on the Lao Securities Exchange (LSX) in Vientiane on 11 January.

Mr. Noppol Milinthanggoon, President of the Ratchaburi Holding, said that the transaction was valued at USD43.37 million and made through its two subsidiaries, Ratch-Lao Services Company Limited, located in Vientiane, and RH International ( Singapore) Corporation Pte, based in Singapore.

Mr. Noppol said that this investment would not only drive the growth to the company, it also reinforces our commitment to long-term investment and confidence in the economic potential of Laos.

He said the company has already invested over 70 million baht in the Lao power sector. Our existing projects include four power plants. The Nam Ngum II hydropower station has a generation capacity of 615 MW and is expected to export electricity this year. The Nam Ngum III hydropower station will have a generation capacity of 440 MW, which is expected to export electricity in 2017. With an investment US$ 3,700 million, the coal-fired Hongsa power plant in Sayaboury province, northwestern Laos, has a generation capacity of 1,878 MW, and is expected to export electricity in 2017, and the Hongsa lignite mining project.

Upon completion, the Se Pien-Se Nam Noi dam in Champassak and Attapeu provinces, southern Laos, will have a generation capacity of 390 MW and is expected to export electricity in late 2017. Most of the electricity output will be exported to Thailand, said Mr. Noppol.

In addition, the company has established RATCH-LAO Service Company Limited to run operation and maintenance business for the power plants in the Lao PDR.

He added the subscription for EDL-Gen's shares was another step for increasing our presence in the Lao power industry as well as supporting the Government of the Lao PDR in developing the country's capital market and economy.

The Ratchaburi Holding, represented by RATCH-LAO Service and RH International ( Singapore) Corporation together, has held a 9.34% equity stake in EDL-Gen. The 56.112 million IPO's share of EDL-Gen was allocated to RATCH-LAO Service, while 25 million shares went to RH International ( Singapore) Corporation, Mr. Noppol said.

The company is very confident that EDL-Gen's management will be able to continue its growth and consistently generate significant benefits for its shareholders and other stakeholders.

The EDL-Generation shares rose from 4,300 kip per unit to 4,700 kip, while the BCEL share price rose from the average IPO price of 5,500kip to 8,000 kip on the first day of trading on the LSX.

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