Thai company Betagro plans to raise BHT 17.4 billion (USD 463.4 million) in an initial public offering (IPO) open from October 10-25 in what would be the second largest IPO in the country this year. The company is offering 434.8 million shares at BHT 40 (USD1.05) per share and local and international investors have already taken up shares.
Betagro plans to increase its production capacity throughout the value chain at home and in Cambodia, Laos and Myanmar with its enlarged capital, including its feed mills.
Betagro was founded in 1967 as a commercial operation in the animal feed business. Its first feed factory was established in Phra Pradaeng, Samut Prakan. The company expanded and became an integrated business across the agro-industrial and food products, including aquafeeds, that distributes in Thailand and exports to more than 20 countries.
Siriwan Intarakamthornchai, CFO at Betagro, said that over the past three years, Betagro has been able to generate strong and consistent revenue representing an average growth rate of approximately 7.3% per year.