KTB Investment & Securities Co. Ltd. unit, KTB Securities (Thailand) Co. Ltd. is set to list on the Stock Exchange of Thailand by the end of 2019, The Korea Times reported March 13, citing a KTB Investment & Securities official.

The company expects to raise around 10.8 billion South Korean won from the public float through an offering of 16.77 million shares. The unit submitted its application for preliminary screening for the IPO in January.

The IPO is expected to boost the firm's investment bank operations while strengthening its business network.

If listed, the brokerage's Thai unit would be the first foreign securities firm to go public in Thailand since 2003, the report noted.

As of March 13, US$1 was equivalent to 1,130.75 South Korean won.