Thai Retailer Boonthavorn Plans IPO to Fuel Expansion

Thailand: Boonthavorn Retail Corporation, a Thai home improvement retailer with connections to Siam Cement Group (SCG), is set to launch an initial public offering (IPO) to raise funds for business expansion, debt repayment, and operational capital. The company plans to sell up to 25% of its shareholdings, equivalent to 320 million shares, aiming to raise at least USD 8,960,000. Following the IPO, the Thayanuwat family’s stake will decrease from 78.5% to 58.9%. Boonthavorn, which reported USD 2.8 million in sales income from January to September 2023, holds significant market shares in Thailand’s tile and sanitary ware sectors. The IPO filing awaits approval from the Stock Exchange of Thailand. 

Source: DIY International