Siam Cement delays SCGC IPO citing adverse economic climate

The initial public offering (IPO) of Siam Cement Group‘s subsidiary, SCG Chemicals Plc (SCGC), has been delayed. Citing the company’s large size and the current adverse economic and investment climate, the parent company, Siam Cement Group (SCG), did not provide a new timeline for the IPO. This announcement was made by Roongrote Rangsiyopash, the President and Chief Executive of SCG.

On April 12 this year, an extension was secured from the SEC for IPO approval until October 4. This period can’t be extended further as per Capital Market Supervisory Board notifications.

Postponing the IPO and SET listing of SCGC shares was due to factors like investor readiness, energy crisis, market conditions, and investor confidence, Roongrote explained.

“We’ve concluded it’s not the right time for the IPO. SCG trusts SCGC’s potential as an ASEAN…