Rumor has surfaced across the market that Siam Cement Group (SCG), Thailand’s largest manufacturer of Portland cement, is likely to enter a race to acquiring a major stake in Quality Construction Products Plc (Q-CON) to secure its business expansion plan.

A news source reported Q-CON has filed a request to the Stocking Exchange of Thailand demanding an expansion period of its shares suspension from trading on the electronic board due to an anticipating in business deal amongst group of its shareholders.

The company said it would sell not less than 51 percent of its stake to the potential bidder whose afterward should do a tender offer toward individual shareholders.

Analysts had expected that the country’s biggest player SCG may join the bidding because likeliness between its current businesses and the targeted company’s.

“We have the ally in mind,” said Ratn Panichpan, the company president. “The target sell price should not less than 3 baht a share.”

He said Q-CON largest shareholder Land and Houses Group (LH) wants to exits its concrete manufacturing business because the group has stopped using materials for construction from the company.

SCG reclined to immediately comment on the rumor, saying it has a plan of continuous expansion with a yearly investment budget of 1.0 billion baht.