Indorama brings first international IPO from Thailand in almost two years

Indorama Ventures, a Thailand-based petrochemical company focusing on polyester, has launched the international roadshow for what looks set to become the first initial public offering with an international component out of Thailand since April 2008.

The company is seeking to raise between Bt9.3 billion and Bt11.5 billion $257 million to $347 million from the publicly marketed portion of the deal and, if priced in the upper half of the price range, this could make it the largest Thai IPO since Rayong Refinery raised $719 million in May 2006.

And the free-float of Indorama will actually be a lot larger than that indicated by the IPO...