Indorama Ventures Ltd (IVL), the parent company of Indorama Polymers PCL (IRP), plans to launch an initial public offering (IPO) by Q1-2010. 95% stake in IVL is held by the Lohia family. IVL holds 42.8% stake in IRP, Thailand's largest polyethylene terephthalate maker. IRP's board has approved a plan to delist its shares as part of the group's restructuring plan. IRP's shareholders have backed the previously announced plan for IVL to make a tender offer for all the shares not held by it in IRP. The shareholders have approved IVL's plan to swap the shares and later list IVL on the market. IVL will offer 1.232 of its own shares for each IRP share.
The plan will be put to the stock regulator and stock exchange, and subject to approval, it is expected to start the tender process at the end of December.
28-Oct-09 
