Central Retail, controlled by the billionaire Chirathivat family, set the indicative price band at 40 to 43 baht, and secured cornerstone investors such as Capital Research Management and Singapore sovereign wealth fund GIC.Central Retail, controlled by the billionaire Chirathivat family, set the indicative price band at 40 to 43 baht, and secured cornerstone investors such as Capital Research Management and Singapore sovereign wealth fund GIC. (File pic shows Tos Chirathivat, the Chief Executive Officer of the Central Group.)
SINGAPORE: Thailand’s largest retailer, Central Retail Corp, priced its initial public offering (IPO) near the top end of an indicative range, in a deal worth about US$2.5bil, making it the country’s largest IPO this month.
With the IPO priced at 42 baht (US$1.36) a share, the company is raising 78.1 billion baht after fully exercising its overallotment option amid markets weakened by worries that a virus outbreak could dampen world economic growth.
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