The Stock Exchange of Thailand (SET) on March 17 listed BBGI pcl, one of Thailand’s leading leaders in the biofuel industry, under the ticker symbol “BBGI”. The company’s initial public offering (IPO) has a market capitalization of 15.18 billion THB (approximately USD 453.13 million).
Manpong Senarang, Senior Executive Vice President, SET, said BBGI Resources Industry Group will be listed on the SET in the energy and utilities sectors and will start business. BBGI is a holding company that invests in a company whose core business is producing and distributing biofuels: ethanol and biodiesel with a production capacity of 1.6 million liters per day, including 600,000 liters of ethanol and 1 million liters of biodiesel.
Its main shareholders are two leading biofuels manufacturers in Thailand, namely Bangchak Corporation pcl (BCP) and Khon Kaen Sugar Industry pcl (KSL).
Significantly, BBGI plans to expand its business into high-value bio-based products in the healthcare and health supplements segment using state-of-the-art technologies such as synthetic biology that are consistent with the government’s bio-circular-green-economy (BCG) model aimed at driving Thailand to a higher income and tech. Towards the nation.
Currently, the company distributes food supplements under the ‘B-Nature Plus’ brand, and joins forces with Manus Bio Inc, a US-based biotech company, to distribute sweets. BBGI has a registered paid-up capital of 3.62 billion THB after the IPO, including 1.01 billion existing ordinary shares and 433.20 million newly issued shares, each valued at 2.50 THB. The newly issued shares were offered to existing shareholders of the company, BCP and KSL, between March 3 – 8, and to individuals under consideration by the underwriter and institutional investors between March 9 – 11, 10.50 THB per share, for a total of 4.55 billion THB. Krungthai is the financial advisor and chief underwriter of Jemico Securities Co., Ltd. Hall. BTGI President and CEO Kittifong Limsuwannarot says BBGI optimizes its power in biotech efficiency to drive growth by seeing business growth opportunities in high-value organic-based products related to healthcare and health supplements.
Listing on the SET will enable the company to achieve strategic goals by investing in integrating the entire supply chain, from upstream to midstream to downstream, to add value and gain competitive advantage. The plan includes investments in local and international biotech startups with knowledge and skills in advanced biotechnology. BBGI aims to achieve 50 percent of total earnings before the 2026 interest, tax, depreciation and repayment (EBITDA) ratio comes from high-value bio-based products that promote public health and wellness. Following the IPO, BBGI’s two main shareholders are BCP (not less than 40.20 per cent) and KSL (not less than 26.80 per cent), relying on the practice of additional allotment options for buying additional shares and repurchasing shares.
The dividend policy of the company is not less than 40% of the total profit from the individual financial statements of the company as determined by all legal reserves and regulatory requirements of the company. Dividend payments include company performance, financial status, investment and group business expansion plans, financial situation, other requirements and related considerations.
For more information, please see the company’s prospectus on the Securities and Exchange Commission’s (SEC) website www.sec.or.th; And for general information, please visit www.bbgigroup.com, as well as www.set.or.th.