By P.R. Venkat
SCG Packaging Public Co., a unit of Siam Cement PCL, is planning to raise as much as 39.46 billion baht ($1.27 billion) through an initial public offering in Thailand.
The IPO, if successful, would the country's second-largest offering after Central Retail Corp.'s $2.5 billion listing in February.
SCG Packaging is planning to sell 1.13 billion shares and is guiding to sell each share for THB33.50-THB35.00, the company said in a filing to the country's stock exchange on Monday.
The offer will also have a cornerstone tranche that will see a group of investors agreeing to subscribe to the shares ahead of the IPO.
The company said that it has an overallotment option of up to 169.13 million shares.
Last year, Siam Cement said that it planned to sell up to 30% of SCG Packaging's shares in an IPO. It also said SCG Packaging intended to use the proceeds from the planned IPO for domestic and international business expansion.
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