Thai auto parts manufacturer PCS Machine Group Holding is forging ahead with its plans for an initial public offering (IPO) to raise funds for expansion and to reduce debt.
The company plans to sell to the public a total of 389m shares, around 25% of its entire share capital, at a cost of THB8.60 (US$0.26) each – allowing it to raise THB3.35bn (US$105m). The subscription offer ends on 7 March and the shares will be listed on 14 March.
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PCS is a major Thai manufacturer of drivetrain parts for petrol and diesel engines. The company plans to expand its activities initially within the ASEAN region.
