Thailand’s Top Retailer Big C Reportedly Considers Up to US$500 Million IPO

Thailand’s top grocery retailer Big C is reportedly considering an initial public offering (IPO) in Thai market that may raise more than $500 million, according to the report by Bloomberg who cited a source familiar with the matter.

According to Bloomberg on Tuesday, which cites unnamed sources, the Bangkok-based company is currently in discussions with investment banks to seek proposals for the share sale, which could take place as early as next year. 

Big C was established in 1993 by the Central Group. In 2012, the firm had an initial public offering in Thailand, where it collected over THB4.2 billion, or US$112 million. 

In 2016, French retailer Casino Guichard Perrachon SA agreed to sell a 58.6% stake in Big C to TCC Holding Co., controlled by Thai billionaire Charoen Sirivadhanabhakdi, for EUR3.1 billion. Later in 2017, Berli Jucker Pcl., a subsidiary of TCC, acquired Big C and the company was subsequently delisted.

The current owner of Big C, Berli Jucker, has not yet provided any details on the IPO plan, said Bloomberg.

Big C Supercenter Pcl. now operates a chain of supermarkets and convenience stores in Southeast Asia (Thailand, Vietnam, Laos and Cambodia).