Thai supermarket ropes in advisors for likely $1b IPO: report

Thai supermarket ropes in advisors for likely $1b IPO: report

Source

Big C Supercenter has chosen investment banks Bank of America Corp and UBS Group AG to facilitate a possible initial public offering of around $1 billion on the Stock Exchange of Thailand, according to a Bloomberg report which cited a source with knowledge of the matter.

Kasikorn Securities is among the four Thai advisors appointed for the deal, a person familiar with the matter told DealStreetAsia. The public debut could take place this year, Bloomberg reported.

Berli Jucker Pcl, a conglomerate owned by Thailand’s wealthiest person Charoen Sirivadhanabhakdi of Charoen Phokphand Group, previously said in a voluntary statement in November that no decision about the IPO has been made.

Founded in 1993 by one of Thailand’s largest mall operator and developer Central Group, Big C raised around 4.2 billion baht in a 2012 IPO before Berli Jucker took it private in 2017 in a 58.6% stake acquisition from France-based Casino Guichard Perrachon SA.

The company operates convenience shops, supermarkets, and hypermarkets across Southeast Asia, including Thailand, Vietnam, Laos, and Cambodia.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter

You have 3 free stories remaining for the month. Register to continue reading our content