Sri Trang Agro-Industry Pcl, the best performer on Thailand’s benchmark stock index last year, wants to raise about $280 million ($361 million) from a share sale in Singapore, according to a term sheet obtained by Bloomberg News.

Sri Trang, Thailand’s biggest publicly traded rubber producer, will sell as many as 280 million shares to individual and institutional investors, according to a prospectus sent to the Monetary Authority of Singapore today. The company in August delayed the sale, citing “volatility” in global equity markets.

 

Rubber surged to a record today as heavy rains in producing countries including Thailand hurt supply, while demand climbs, led by China and India. Sri Trang will become the second company after Total Access Communication Pcl to list stock on the exchanges in both Thailand and the city-state.

 

“Investor appetite will largely depend on the final price” of the new shares, said Jitra Amornthum, the head of research at Finansia Syrus Securities Pcl in Bangkok. Finansia rates the Thai stock as a “hold,” according to Bloomberg data.