A Thai paint manufacturer preparing to open its first factory in Cambodia announced that it will launch an initial public offering on Thailand’s stock exchange to raise funds for its expansion into Cambodia, Indonesia and Myanmar, according to a Thai media report.

The Bangkok Post said TOA Paint Thailand Co Ltd has submitted a request to float a 25 percent stake on the Stock Exchange of Thailand. The company’s factories in Cambodia and Indonesia are expected to open in the second quarter of the year, while a Myanmar production facility is expected to start up next year, according to the report.