A fully integrated producer of lime and lime-related products, Chememan, has filed an application with the Securities and Exchange Commission (SEC) to launch an initial public offering of 280 million ordinary shares in the Stock Exchange of Thailand. It has appointed Tisco Bank as financial adviser for the IPO.
The proceeds from the IPO will be spent on business expansion, repaying bank loan, and for revolving capital. The company has a registered capital of Bt1 billion of which Bt720 million is issued and paid-up capital.
Chememan chief executive officer Adisak Lowjun said the company is recognised as a leader in the lime industry in Asia. Its installed lime production capacity as of June this year was 800,000 tonnes per year from its three plants in Thailand – two in Saraburi and one in Rayong.
The company exports lime to more than 20 countries. It has a distribution centre in Australia.