Converse distributor RSP set to offer shares this year
The Securities Exchange and Commission (SEC) has already taken into consideration the filing of Rich Sport (RSP) to trade shares on the Stock Exchange of Thailand (SET), according to the company's financial advisor Finansia Syrus Securities.
RSP is the Thailand’s sole distributor of Converse footwear and sportswear. The company is expected to offer shares for subscription and trade in the SET within this year.
It plans to offer 200 million shares, representing 25.97 per cent of its total issued and paid-up ordinary shares. Of total, 195 million will be offered to the general public and the rest to its executives, board of directors, and employees as well as its subsidiaries.
RSP chief executive officer Papitch Wongpaitoonpiya said that funds from the offering would be used to expand its outlet network and for future business expansion.
RSP has the rights to use the Converse brand in its marketing activity, distribution and campaign activities of Converse products in Thailand.
Early this month, Converse also granted to the company the sole right to market, sell and distribute Converse brand products in Cambodia.
RSP made consolidated revenue of Bt601.12 million during the first six months of this year, with net profit of Bt122.16 million.
