BANGKOK — Thailand's largest retailer, Central Retail Corporation, plans to raise up to 81.1 billion baht (2.08 billion pounds) in an initial public offer (IPO), the company said in a filing on Thursday, in what would be the country's largest IPO. Central Retail, part of the billionaire Chirativat family's Central Group, set an IPO price range at between 40 and 48 baht per share and will sell up to 22.1% of the company's stock or 1.69 billion shares with an overallotment option of 169 million shares. Subscription for investors will begin on Feb. 6. Central Retail's plans to go public, first announced in July, would overtake the country's largest listing, BTS Rail Mass Transit Growth Fund, which raised 62 billion baht in 2013. Funds raised will be used to expand its domestic and international businesses and to pay off debt, the company said.

Source: International New York Times December 26, 2019 10:07 UTC