Banpu (BAK:BANPU) Denies No Plans to Increase Stake in Centennial (ASX:CEY)

Centennial Coal Ltd. (ASX:CEY) said Friday that it has received a letter from Thailand's Banpu Public Company Limited (BAK:BANPU) overnight, denying speculations that Banpu has no immediate plans to increase holding in Centennial.

Banpu said that it had not made any statements to this effect. The Thai company has recently increased its stake in Centennial from 14.9 per cent to 19.9 per cent and become the largest shareholder in the Australian coal miner. Banpu purchased 14.9 per cent stake in Centennial off-market at A$5 per share in May.

Banpu's statement has raised conjectures that the Thai coal miner would make full takeover offer to Centennial amid a wave of consolidation activities in Australia's coal sector.

Centennial shares today opened at A$4.49 and surged to A$4.74 shortly after it released the Banpu statement.


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Banpu Public Company Limited