September 21, 2007

Betagro announces plan to list on Thailand's stock exchange

Betagro, a major Thai agricultural group, has announced its plan to list on the Stock Exchange of Thailand (SET) in 2008.

The funds raised would be used to expand the company's food and farm businesses, the company said during celebrations at the 40th anniversary of its founding.

In the first 40 years, the company engaged mainly in upstream industries, producing feeds, farming, and making food, Group chief executive Vanus Taepaisitphongse said.

Now the company would take another step forward, to focus more on downstream businesses, high-standard ready-to-eat meals and effective marketing and distribution, he added.

The company is filing its listing application this year to make full use of a tax incentive offered by the Securities and Exchange Commission.

Companies filing in 2007 for a listing in 2008 will be eligible for a corporate tax rate of 25 percent, compared with the normal rate of 30 percent.

Taepaisitphongse said that another objective for listing was to raise Betagro's professionalism as a specialist in the chicken and pork business.