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; and for general information, please visit, as well as

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