Auto-part maker poised for IPO
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PCS Machine Group Holding Plc (PCSGH), a leading auto-part manufacturer, plans to launch an Initial Public Offering (IPO) on the Stock Exchange of Thailand to raise funds for investment opportunities in the forthcoming Asian Economic Community.
The company has converted into a public company and increased its registered capital to Bt1.426 billion at Bt1 par value. With Bua Luang Securities as its financial advisor, PCSGH will offer 357 million common shares for its initial issue at Bt1 par value to both institutional and retail investors.
The proceeds from IPO will partly be used for business expansion to supply both new and existing customers and to repay bank loans. The company has appointed Bualuang Securities Plc and Siam Commercial Securities Plc as lead underwriters.
