Top-Notched Home Decor Company Of Thailand Launches IPO!
Post by Tuba Qureshi | Oct 30, 2018
The Leading Home Furnishing Brand Of Thailand Is All Set To Launch IPO By The End Of The Year!
With a vision to let you live fashionably, Chic Republic is preparing IPO (Initial Public Offering)of about selling 360 million shares which is equivalent to around 26.47 % of their registered capital on the Thai Market soon this quarter for Alternative Investment.
Kijja Pattamasattayasonthi, the CEO of the company said, “the proceeds will be used for business expansion and dept. repayment”.
As we know Chic Republic is the leading distributor of decorative items under RINA HEY and CHIC brands presently has four total branches, but they are planning to invest around 1 billion baht to launch five more branches in and outside Thailand in the next five years.
Kijja said, “Three new branches are already under construction out which is the first overseas branch in Phnom Penh in the Aeon Mall 2 will soon open by the end of the year”.
According to the company financial advisor, Vicha Tomana, who is also the managing director of Philip Securities Thailand says that the Chic Republic’s application for an IPO has been approved by the Securities and Exchange Commission.
Currently, the company’s paid capital is around 500 million baht, and after IPO it is expected to increase up to 680 million baht.
The company has till now generated 68 % of its total sales revenue from retail and 32 % from the project. Until June 2018, Chic Republic has backlogged about 156 million baht from the property developers and it is expected that the company’s revenue will be completely recognized by the year 2020.
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