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Wednesday, March 29, 2023

Indorama considers $1bn US IPO of unit

A factory operated by Indorama Ventures. (Photo: Indorama Ventures)

Indorama Ventures Public Company Limited, the acquisitive Thai chemicals company, is considering a United States initial public offering of its integrated oxides and derivatives business that could raise about US$1 billion, according to people familiar with the matter.

The Bangkok-listed firm is working with financial advisers on the potential share sale, which could take place as soon as this year, the people said, asking not to be identified because the matter is private. The proceeds could help Indorama boost growth as well as reduce debt, the people said.

Considerations are at an early stage and Indorama could decide against pursuing a deal, the people said….

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