SCGC listing delayed amid poor conditions

A new IPO timeline has not been revealed

Siam Cement Group (SCG) says it has postponed its initial public offering (IPO) plan for its subsidiary SCG Chemicals Plc (SCGC), without providing a specific timeline, due to the company’s significant size, coupled with unfavourable economic and investment conditions this year.

Roongrote Rangsiyopash, president and chief executive of SCG, revealed information regarding the progress of the IPO plan for SCGC yesterday, noting that the company had obtained approval from the Office of the Securities and Exchange Commission (SEC) on April 12, 2023 to extend the IPO approval period until Oct 4, 2023. This cannot be…