Siam Cement Pcl, one of Thailand’s largest industrial conglomerates, scrapped a proposed initial public offering for its chemicals unit, citing unfavorable market conditions.
SCG Chemicals Pcl’s IPO may be inappropriate at this time after taking into account the readiness of investors to take this sizable share offering, Siam Cement said Monday in a statement to the exchange. SCG Chemicals’ earlier IPO filing with Thailand’s Securities & Exchange Commission will expire on Oct. 4 and can’t be extended, though the company intends to proceed with the listing in due course after the situation improves, the statement showed.
The company ...
