Thailand’s Central Retail said to target US$2b IPO in 2020

At $2 billion, Central Retail Corp.’s planned offering would be the second-largest in Thailand on record after BTS Rail Mass Transit Growth Infrastructure Fund’s $2.1 billion listing in 2013, according to data compiled by Bloomberg.

BANGKOK: Central Group, one of Thailand’s biggest conglomerates, is targeting an initial public offering of its retail arm as soon as the first quarter of next year which could raise around $2 billion, according to people familiar with the matter.

The IPO plan was pushed back from the last quarter of 2019 to allow the group to complete a restructuring involving Bangkok-based department store operator Robinson Pcl ahead of the proposed listing, said the people, who asked not to be identified as the discussions are private.