Betagro Public Company Limited (BTG) plans to raise about THB17.4 billion in what could be the country’s second largest IPO this year.
The Thai meat producer Betagro is planning to sell 435 million shares at THB40 each with a greenshoe option of 65 million shares, equalling to 15% of the base deal, according to a regulatory filing.
The proceeds from the IPO will be utilized to fund expansion and repay debt.
The Bank of America, Bualuang Securities and Kiatnakin Phatra are the banks on the IPO.
Betagro’s business starts with agro business ranging from animal feed products, animal health products to livestock including animal breeding and breed development as well as animal farms. The company also operates a food processing business including chicken meat, pork meat and egg products to move towards a vertically integrated food business.
A raise for THB17.4 billion from Betagro is expected to be Thailand’s second-largest IPO this year after Thai Life Insurance Public Company Limited (SET: TLI), which raised THB34.56 billion in July.