Boonthavorn Retail Corporation Public Company Limited (BOON), a leading home improvement retailer in Thailand, is planning to enter the stock market.
On February 14, 2024, Boonthavorn filed a registration statement with the Securities and Exchange Commission of Thailand (SEC) to offer up to 320 million new shares (IPO) before listing on the Stock Exchange of Thailand (SET).
Sitisak Tiyanuwat, Managing Director of Boonthavorn Retail Corporation Public Company Limited (Public Company Limited), said that the company group is a "one-stop-shop for home improvement materials and equipment." As of September 30, 2023, Boonthavorn has a total of 50 stores under its management.
The company operates through its modern retail channels under the name "Boonthavorn" and modern retail franchise channels that the company has partnered with SCG Group under the names "SCG Home" and "SCG Home Boonthavorn".
For this IPO, Boonthavorn will use the trading symbol "BOON" to list on the Stock Exchange of Thailand (SET) in the Services industry group, Commerce business category. The number of shares offered will not exceed 320 million shares, or 25% of the total number of shares.
The proceeds from the IPO will be used for three main purposes: 1) to fund business expansion, 2) to repay bank loans, and 3) to provide working capital for the business.
For the latest period (nine months ended September 30, 2023), the company had a total revenue of 10,338.54 million baht and a net profit of 214.02 million baht.
After the IPO, the Tiyanuwat family, the founders, will remain the majority shareholders with a 58.90% stake, followed by the Daowpisek family with 7.00%, the Trongkomontham family with 1.70%, other shareholders with 7.40%, and the general public with 25.00%.
Don't miss out on this opportunity to be a part of the next big thing. Invest in BOON now. 🍾
Source: Facebook Page Today Bizzview, posted on Feb16th, 2024
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