Bangkok Lab and Cosmetics (BLC), a large local pharmaceutical firm, is planning to float its shares on the Stock Exchange of Thailand (SET) later this year, aiming to raise funds for future expansion.
BLC, which distributes generic drugs, herbal and animal medicines, recently filed a listing proposal with the Securities and Exchange Commission.
The company appointed KGI Securities (Thailand) as its financial advisor for the initial public offering (IPO), for which up to 150 million shares would be offered, said chief executive Suvit Ngampoopun.
The IPO shares, constituting 25% of the company's paid-up capital, would consist of 120 million common shares.
Another 30 million ordinary shares would be offered to our existing shareholders, Viva Sonata Pte Ltd, for the IPO, he said.
The company plans to allocate the proceeds from the IPO for future projects and to repay debts. The remaining amount would be used as working capital for business expansion.
"BLC operates as a full-service pharmaceutical and health product business. We manufacture and sell products under our own brand and for business partners both domestically and internationally," said Mr Suvit.
Based in Ratchaburi province, the manufacturer distributes its products through hypermarkets, shops and online platforms.
BLC's business-to-business sales channel serves public and private hospitals as well as retail pharmacies that operate inside and outside Thailand.
Mr Suvit said the firm also aims to develop new technology and innovations for its products, especially new generic drugs, through its research centre to lessen the dependence on imported drugs and ingredients.
The research, which aims to ensure the credibility of herbal products through clinical studies, could grant Thai consumers access to better treatment, he said.
