Summit Group aiming to raise $1 bln to expand its power business

Bangladesh’s Summit Group wants to raise $1 billion on the international capital markets to fund the expansion of its power business.
By Staff reporter 10 August 2017 0 27141

Summit Group, Bangladesh’s largest conglomerate, wants to raise $1 billion on the international capital markets over the next two-to-four years to fund the expansion of its power business at home and abroad, according to the Nikkei Asian Review.

Central to that aim is a plan to list Summit Power International in Singapore next year.

The company has also received a $50 million equity investment from GE, which gives the American company the right to supply gas turbine-related equipment for Summit’s power projects over the next...

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