Exclusive: Thai Siam Cement’s packaging unit set for $1 billion IPO – sources

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FILE PHOTO: The logo of the Siam Cement Public Company Limited is pictured at its office building in central Bangkok, Thailand, June 9, 2016. REUTERS/Chaiwat Subprasom

SINGAPORE (Reuters) – Thailand’s Siam Cement Pcl’s (SCG) (SCC.BK) packaging subsidiary is planning a local listing, in a float that is set to raise about $1 billion, two sources with knowledge of the matter said.

The IPO of SCG Packaging Pcl (SCG Packaging), which could be announced as early as this week, is aimed at independently beefing up the company’s funding needs as it charts out a regional expansion strategy, they said.

Reporting by Anshuman Daga; Additional reporting by Chayut Setboonsarng; editing by Richard Pullin

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