CRC informs SEC of IPO launch
Retail giant Central Retail Corporation (CRC) has filed to the Securities and Exchange Commission (SEC) its plan to launch the Initial Public Offering (IPO) of 2,231.71 million shares in the Stock Exchange of Thailand (SET).
Of the total, 1,620 million are the newly issued ordinary shares, and not exceeding 611.71 million existing shares owned by Hawthorn Resources Limited.
After the IPO, the company will have total paid-up capital of not exceeding Bt6.320 billion.
CRC is one of the core businesses of Central Group. It will spend the proceeds from the IPO on outlet expansion in Thailand and overseas as well as renovation of existing outlets in Thailand.
Balance of the proceeds will go towards repaying bank loans and be used as revolving fund.
