Siam Cement PCLsaid it will launch a tender offer to purchase around a third of building materials distributor Siam Global House PCL from 5 October to 9 November, according to a filing to the Stock Exchange of Thailand Thursday.

Siam Cement, Thailand's largest industrial conglomerate by sales, announced in late August a plan to acquire up to 33.40 per cent in Siam Global House through its wholly owned unit, SCG Distribution, for about THB10bn ($326.2 million).

The investment includes the purchase of 224 million Siam Global shares via a private placement at THB14 a unit, a partial tender offer for between 391.1 million and 457.4 million shares at THB14 apiece, and a tender to purchase between 47.6 million and 55.6 million warrants at THB9.30 per unit.