IFS Capital (Thailand) has scheduled its initial public offering of 120 million shares late this month and its listing next month.
Meanwhile, Symphony Communication has won regulatory approval from the Securities and Exchange Commission for its IPO of 75 million shares at Bt1 par value each.
Tan Ley Yen, CEO of IFS, said last week the timing was right for going public.
The company is ready while capital market sentiment and other circumstances like the economic recovery in Thailand and abroad as well as political stability were favourable.
The 120 million IPO shares represent 25.53 per cent of post-recapitalised capital.
As of last December, the company had Bt470 million in registered capital, with 470 million shares of Bt1 par value. Paid-up capital was Bt350 million.
IFS will list on the Stock Exchange of Thailand.
The proceeds will be used for expansion and working capital.
IFS has won approval from the Commerce Ministry's Business Development Department to offer equipment leasing and hire-purchase financing. It will start those operations in Thailand after the listing.
IFS is a subsidiary of Singapore-listed IFS Capital, a regional financial group proficient in the factoring business, with operations in many Asean countries. IFS last year posted net profit of Bt71.29 million.
IFS' core businesses in Thailand are factoring, equipment leasing, hire purchase and related financial services.