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Ascon to raise funds to bid for state projects.
Byline: Busrin Treerapongpichit
Apr. 1--In a bid to tap into the government's massive expenditures for megaprojects, Ascon Construction Plc is preparing for business expansion by seeking a low-cost funding source.
Pattanapong Tanumathaya, the company's founder and chief executive officer, said Ascon was looking to raise funds through an initial public offering of shares on the Stock Exchange of Thailand.
It plans to float around 50 million shares with Bualuang Securities Plc acting as the financial adviser for the IPO.
The company increased its registered capital to 200 million baht, of which 150 million baht is paid-up, an increase ...
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