Betagro to list on Stock Exchange
One of Thailand’s major agricultural groups, Betagro, has celebrated its 40th anniversary by announcing plans to list on the Stock Exchange of Thailand (SET) in 2008 with the aim of raising funds for the expansion of the company’s food and farm businesses.
The listing application would be filed this year in order to take advantage of the incentives offered by the Securities and Exchange Commission. Market regulators have said that companies filing in 2007 for a listing in 2008 will be eligible to have their corporate tax rate of 25%, which compares with the normal rate of 30%.
Group chief executive Vanus Taepaisitphongse said that another objective was to increase Betagro’s professionalism as a major specialist in the chicken and pork business.
At present, only two chicken producers are traded publicly, namely Charoen Pokphand Foods and GFPT Plc.
”In the first 40 years, we have engaged mainly in upstream industries, producing feeds, farming, and making food. Now we’ll take another step forward, focusing more on downstream businesses, high-standard ready-to-eat meals and effective marketing and distribution,” he said.