Toa Paint (Thailand) Co., Ltd. was said to have plans for an initial public offering last May in the hopes of capitalizing on the boom for the coatings industry, while Avia Avian, PT, Indonesia's second-biggest paint manufacturer, is also thought to be planning an offering this year. Shares of nine global paint companies, including Nippon Paint and Sherwin-Williams Co., have jumped 32% over the past year.