SINGAPORE/HONG KONG: Thailand's largest retailer, Central Retail Corp, has priced its initial public offering (IPO) in a deal worth about $2.6 billion at 42 baht ($1.35) a share, three people with direct knowledge of the deal told Reuters.
The launch of Thailand's largest-ever IPO comes as global markets have weakened on worries that a new coronavirus outbreak in China would dampen economic growth globally.
The death toll from the epidemic passed 490 in China on Wednesday, mostly in and around the locked-down central city of Wuhan where the virus emerged late last year.
In mid-January, Central Retail set an indicative price band of 40 baht to 43 baht for its IPO and secured cornerstone investors including Capital Research Management Co and Singapore sovereign wealth fund GIC Pte Ltd.
Central Retail is set to raise a total of about $2.6 billion through the IPO and a share swap of its subsidiary, said one of the people, who declined to be identified as the pricing has not been officially announced.
As part of its listing plans, the firm will delist retail unit Robinson PCL and offer a share swap to Robinson's existing shareholders.
Central Retail, controlled by the billionaire Chirathivat family's Central Group, had no immediate comment on the pricing.
Its shares are due to start trading later this month. - Reuters
source https://www.thesundaily.my/business/central-retail-finalises-pricing-of-thailand-s-largest-ipo-sources-KN1971783
No comments:
Post a Comment