PETALING JAYA: MR DIY Holding (Thailand) Public Co Ltd is set to raise as much as 5.63 billion baht, or approximately RM730mil, through an initial public offering (IPO) later this month as it accelerates expansion across Thailand.
The company plans to issue up to 655 million shares, representing 10.89% of its post-IPO paid-up capital, at an indicative price range of 8.30 to 8.60 baht per share, according to its prospectus lodged with the Securities and Exchange Commission.
Of this, 420 million new shares will be offered by the company, while 235 million shares will be sold by existing shareholder MDIH (Singapore) Pte Ltd.
MR DIY Thailand expects to net 3.28 billion to 3.4 billion baht from the share sale, which will be used to expand store networks, repay loans and provide working capital.
“The proceeds will support our long-term growth plans,” it said in its filing with the Stock Exchange of Thailand.
