BANGKOK, Sept 17 (Reuters) - Motorcyle leasing firm Thitikorn PCL said on Wednesday it plans to raise 1.1 billion baht ($27 million) in Thailand's largest initial public offering (IPO) so far this year.
Managing director Prathama Pornprapha told reporters Thitikorn would sell 100 million shares at 11 baht each on September 23-24. After the share issue, its registered capital will rise to 500 million baht.
Thitikorn's IPO will be Thailand's biggest this year after Mida Assets PCL , which raised one billion baht in July.
Thitikorn is the largest leasing firm for motorcycles in Bangkok and surrounding provinces with a 37 percent share.
Prathama said the money raised would be used to repay debt and expand business. Trinity Advisory 2001 is financial adviser for the listing and thhe shares are expected to start trading on October 2.
She said Thitikorn would continue to benefit from Thailand's strong economic growth and expected motorcycle sales to rise to 1.8 million this year from 1.3 million last year.
($1 = 40.67 baht)