Thai Siam Cement’s packaging unit set for $1 billion IPO


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Thai Siam Cement’s packaging unit set for $1 billion IPO

Bangkok-based Packaging unit of Thailand’s Siam Cement Group Public Company Ltd., the largest and oldest cement manufacturer in Southeast Asia alongside 604th-largest publicly traded company as ranked by the Forbes Magazine, had been sketching out a plan of an IPO filing in the local market, as the company’s packaging unit had been seeking to raise as much as $1 billion in a bid to raise funds for the Thai cement manufacturer’s regional expansion, at least three sources directly briefed over the subject-matter had confirmed late on Monday (October 28th).

Although the report was first revealed by a press agency over the weekend, one of the sources with direct knowledge regarding the company’s planned initial public offering had been quoted saying earlier on Tuesday (October 29th) that an IPO of SCG Packaging Pc1, often called as SCG packaging, a subsidiary of Siam Cement Group, would likely to be announced as early as this week, while the IPO was aimed at fleshing up the company’s financial health in order to revamp its regional expansion strategy, as another source familiar with the issue said earlier on Monday (October 28th), “Siam Cement has been considering options for this business and an IPO is the next step.

” Meanwhile, a separate source added on condition of anonymity earlier on Monday (October 28th) that the SCG packaging, accountable for packaging paper, forestry and pulp businesses of Thailand’s largest industrial conglomerate, and 99 per cent owned by the Siam Cement Group would likely to file for IPO by December this year, which might be issued at the first half of 2020.