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Date/Time
16 Mar 2022 16:37:00
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SET News :SET welcomes leading biofuel producer BBGI on March 17
Symbol
SET
Source
SET
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                                                                  SET News 20/2022
                                                          March 16, 2022
                                         
SET welcomes leading biofuel producer BBGI on March 17

BANGKOK, March 16, 2022 - The Stock Exchange of Thailand (SET) will list BBGI 
pcl, one of Thailand's leaders in biofuel industry on March 17, under the ticker
symbol "BBGI". The company has a market capitalization at its initial public
offering (IPO) of THB 15.18 billion (approx. USD 453.13 million).

SET Senior Executive Vice President Manpong Senanarong said BBGI will list and 
start trading on SET in the Resources industry group, Energy & Utilities sector.

BBGI is a holding company that engages in investment in a company of which core 
business is producing and distributing biofuel: ethanol and biodiesel with
production capacity of 1.6 million liters per day, comprising 600,000 liters of
ethanol and 1 million liters of biodiesel. Given that its major shareholders are
Thailand's two leading biofuel manufacturers namely Bangchak Corporation pcl
(BCP) and Khon Kaen Sugar Industry pcl (KSL), the company has gained the synergy
of raw material supply and product distribution. Significantly, BBGI plans to
expand business into high value bio-based products in healthcare & health
supplement category using sophisticated technology such as synthetic biology
which is in line with the government's bio-circular-green-economy (BCG) model
that aims to drive Thailand towards a high-income and sustainable nation.
Currently, the company distributes food supplementary products under 'B-Nature
Plus' brand and also joins forces with Manus Bio Inc., an advanced bio-tech
company from the US, to distribute sweeteners.

BBGI has a registered paid-up capital after IPO of THB 3.62 billion, consisting 
of 1.01 billion existing common shares and 433.20 million newly issued shares,
with a par value of THB 2.50 each. The newly issued shares were offered to the
company's existing shareholders, BCP and KSL, during March 3 - 8, and persons at
the underwriter's discretion and institutional investors during March 9 - 11 at
THB 10.50 per share, for a total of THB 4.55 billion. Krungthai Zmico
Securities Co., Ltd. is its financial advisor and lead underwriter.

BBGI's President and CEO  Kittiphong Limsuwannarot said that BBGI sees business 
growth opportunities in high value bio-based products related to healthcare and
health supplement by optimizing its strength in bio-tech expertise to boost
growth. The listing on SET will enable the company to achieve strategic goals by
investing to integrate the whole supply chain starting from upstream, midstream
to downstream to add value and take competitive advantage. The plan includes
investment in local and international bio-tech startups with knowledge and
expertise in advanced bio-technology. BBGI aims that 50 percent of the total
earnings before interest, tax, depreciation and amortization (EBITDA) proportion
in 2026 will derive from bio-based products of high value that promote people's
 healthcare and wellness.

BBGI's two major shareholders after the IPO are BCP (no less than 40.20 percent)
and KSL (no less than 26.80 percent), depending on the exercise of
over-allotment option to buy additional shares and share repurchase.

The company's dividend policy is to pay no less than 40 percent of net profit 
from the company's separate financial statement after all legal reserves and
those specified by the company's regulatory requirements. The dividend payment
is also subject to the company's performance, financial status, investment and
business expansion plans of the group, economic situation, other necessities and
 related considerations.

For more information, please see the company's prospectus at the Securities and 
Exchange Commission (SEC)'s website at www.sec.or.th; and for general
information, please visit www.bbgigroup.com, as well as www.set.or.th.

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