PSP ANNOUNCES THB 500 MILLION EQUITY TRANSACTION WITH CPFAM-LDA ASIA GROWTH FUND THROUGH SHARE PURCHASE AGREEMENT
- news2u
- Jun 7, 2024
- 2 min read
BANGKOK, June 4 (Bernama-BUSINESS WIRE) -- P.S.P. Specialties Public Company Limited (“PSP”) (SET:PSP) has announced that one of its shareholders has signed a Share Purchase Agreement with CPFam-LDA Asia Growth Fund (the “Fund”) for up to THB 500 million.
In August 2023, LDA and the Jiaravanon family—who draw their wealth from the Charoen Pokphand Group—launched The CPFam-LDA Asia Growth Fund to invest in publicly listed and pre-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.
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. 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.
“The transaction with PSP marks a significant milestone for the Fund," stated Anthony Romano, Fund Director. "It underscores our commitment to the region and exemplifies the strategic capabilities we aim to enhance through our partnership. PSP represents the type of high-potential company we seek to support — crucial to its industry and poised for substantial growth and development.”
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About PSP
PSP is the leading lubricant solutions provider of automotive and industrial lubricant and specialty products including grease, rubber process oil and transformer oil. The company is an independent manufacturer that has the highest production capacity in Thailand and holds the largest market share in various products.
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