Thailand: Siam Cement Group’s (SCG) planned sale of up to 30% of shares in its subsidiary SCG Packaging has received the approval of the Securities and Exchange Commission. SCG is awaiting better market conditions for the sale, after it postponed the initial public offering (IPO) in mid-March 2020 following the coronavirus outbreak. The company said, “Once the overall situation becomes clearer and more conducive, SCG will proceed with its IPO and the listing of its shares on the Stock Exchange of Thailand.”
SCG said that it is selling the shares to raise funds for ‘international and domestic business expansion.’