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Thailand’s integrated food company, Betagro Pcl has successfully raised US$460 million in an IPO listing in October, which also made it Thailand’s 2nd largest IPO listing in 2022 after Thai Life Insurance Pcl.
Betagro produces meat and pet food, and it plans to use the proceeds from the IPO to acquire or build new factories, pay off debts or use it as working capital.
The company booked net profit of Bt 3.9 billion (US$109 million) in the first half of 2022, up from Bt 1.2 billion (US$33.5 million) recorded in the previous year. The higher profit is attributed to higher market prices for its products that include poultry, eggs and processed food.
