KUALA LUMPUR, June 4 (Bernama) -- P.S.P. Specialties Public Company Limited (PSP) has announced one of its shareholders has signed a Share Purchase Agreement with CPFam-LDA Asia Growth Fund (Fund) for up to 500 million baht. (100 baht = RM12.80)
This collaboration between PSP and CPFam-LDA Asia Growth Fund not only bolsters its capacity for innovation and expansion but also reinforces the infrastructure supporting Thailand's critical industrial sectors, according to a statement.
“Our strategic plan is to strengthen the core business by expanding the revenue portfolio to various specialty products and international markets, and to optimise sustainable growth from investment in new target industries.
“Listing on the Stock Exchange of Thailand last year was our achievement but to have an investor with strong global connections will enhance PSP’s growth significantly,” said PSP Deputy Chief Executive Officer, Sakesan Krongphanich.
Meanwhile, Fund Director Anthony Romano said the transaction with PSP marked a significant milestone for the Fund as PSP represents the type of high-potential company it seeks to support, crucial to its industry and poised for substantial growth and development.
“It underscores our commitment to the region and exemplifies the strategic capabilities we aim to enhance through our partnership,” he said.
PSP plays a crucial role in the lubricant and specialty products industry, sectors that are essential for the functioning of a wide range of industrial activities and automotive services in Southeast Asia.
In August 2023, LDA and the Jiaravanon family, who drew their wealth from the Charoen Pokphand Group, launched the CPFam-LDA Asia Growth Fund to invest in publicly listed and pre- initial public offering (IPO) high-growth companies across Southeast Asia.
The synergy between LDA’s cross-border expertise and CP Group’s deep regional connections is expected to drive significant advancements in sectors such as technology, agriculture, and energy, which are pivotal for sustainable growth.
-- BERNAMA
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