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Thailand's SCG Packaging set to raise $1.5bn in IPO

Demand for Siam Cement unit shows investor confidence despite economic woes

A man walks past the logo of Siam Cement in Bangkok. The group is one of Thailand's biggest industrial companies, the biggest shareholder of which is King Maha Vajiralongkorn.   © Reuters

BANGKOK (Financial Times) -- Siam Cement Group's packaging unit is set to raise nearly $1.5 billion in an initial public offering, signaling investor confidence in one of Thailand's industrial champions despite economic woes and anti-government protests.

SCG Packaging on Thursday priced shares at 35 baht ($1.12) each, or at the top end of an indicated range, people close to the IPO told the Financial Times. SCG did not respond to requests for comment on the pricing, which was first reported by Reuters.

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