Sri Trang Agro-Industry <STA.BK>, a Thai rubber planter, plans to raise as much as $252 million in a dual listing in Singapore, IFR Asia reported on Thursday.

The Thai group has launched a roadshow and is offering 280 million new shares at an indicative range of $0.79 to $0.90 a share, representing 22% of its enlarged share capital, IFR said.

In a statement to the Thai bourse earlier on Thursday, Sri Trang Agro-Industry said it had filed a prospectus with the Monetary Authority of Singapore. The statement did not provide details on the size of the offering.

IFR said the funds will be used to build and expand new rubber processing facilities, pursue acquisitions and for working capital.

It said the international roadshow runs from August 19-27 and pricing will be decided on Sept 1. The listing is targeted for September 9.

IFR said DBS <DBSM.SI> is the sole bookrunner and underwriter to the offering. A DBS spokeswoman declined comment to Reuters.