By  on February 20, 2020

Central Retail Corporation, which operates a consumer portfolio across Thailand, Vietnam and Italy, began trading today on the Thai stock exchange, in an initial public offering that raised 78.12 billion Thai baht, or $2.48 billion at current exchange, valuing the company at 253 billion baht, or $8.06 billion.

The firm is a subsidiary of Central Group, the influential Thai conglomerate owned by the Chirathivat family, and is its latest division to go public. The company’s other two subsidiaries, operating in the shopping mall development and hospitality, are already listed on the Thai stock exchange. After listing, the Chirathivat family still holds 70 percent of CRC share ownership.

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