Unlocking EASTW—a hidden gem
EGCO holds an 18.72% stake in EASTW. Given EASTW’s current share
price of Bt12.20 versus EGCO’s share cost of Bt2, we calculate the
potential capital gain to EGCO will reach Bt6/share. However, we feel the
surplus value does not stop here; the IPO of Universal Utilities (UU, an
EASTW subsidiary) some time this year will further unlock EASTW’s true
value and enhance EGCO’s hidden return further.