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  • Wood Chip Wonder

    Wood Chips Help Create Billionaire Family in Thai Energy Sector

    By Anuchit Nguyen (Bloomberg)
    November 13, 2019




    Jirata Songmetta Source: Absolute Clean Energy:

    Biomass power specialist Absolute Clean Energy Pcl lists in Bangkok on Wednesday, an initial public offering that reveals the founding Songmetta family as among the wealthiest in the Asian nation.

    Wirachai Songmetta -- who is also a senior police official -- and his kin have a net worth of $1.2 billion based on their shareholdings in the firm, according to the Bloomberg Billionaires IndexEnergy Absolute Pcl, and Sarath Ratanavadi, founder and chief executive officer of Gulf Energy Development Pcl.

    Absolute Clean Energy said the shares offered were more than 10 times oversubscribed among institutional investorsdeputy commander at the Royal Thai Police, and last year helpedwebsite shows.
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