PSP Specialties plans IPO on Thai stock exchange for growth boost

Thailand’s leading lubricant producer, PSP Specialties Plc, is preparing for an initial public offering (IPO) to boost its business growth. The company plans to offer 350 million shares, approximately 25% of its total shares, on the Stock Exchange of Thailand. The price per share is yet to be determined, with a roadshow in the works to promote the company.

CGS CIMB Securities (Thailand) is handling the underwriting process for the listing. The CEO of PSP Specialties, Sint Krongphanich, stated that part of the funds raised through the PSP Specialties IPO would be used to repay debt incurred following the acquisition of UC Marketing Co, a distributor and seller of raw materials and goods. Additionally, funds will be allocated to short-term debt payments and enhancing the company’s production efficiency.

PSP Specialties’ IPO…