“Central Retail” Files for 2.23bn Shares of IPO, Aiming for Domestic/Int’l Expansions

Central Retail Corporation Public Company Limited (CRC) has submitted a filing to the Securities and Exchange Commission, Thailand on October 1, 2019, for issuance of an initial public offering (IPO) at a total of 2,231,714,300 shares, having Phatra Securities and Bualuang Securities as financial advisors.

The capital increase would be proceeded along with the tender offer for Robinson Public Company Limited (ROBINS) in which CRC, as a major shareholder both direct and indirect totaling 53.83%, will delist ROBINS from being a listed company in the Stock Exchange of Thailand (SET) afterward.

The delist is according to CRC’s restructuring plan, which CRC aims to allocate the funding from IPO for branch expansions and improvement for both domestic and international, including Robinson Department Store, Robinson Lifestyle Center, Thai Watsadu as well as Big C in Vietnam. Moreover, the allocation of IPO funding will be used as repayment to financial institutions and working capital.

In addition, CRC has a policy of paying a dividend payment at a rate of not less than 40% of net profit.