Mr. DIY Thailand to raise USD 173 mio from public offering

The Thai operations of global home goods retailer Mr. DIY expected to raise USD 173 mio (EUR 150.33 mio) from its market debut, with shares priced at 8.60 Thai baht (THB, EUR 0.23) apiece. The company has ceded 10.9 per cent of its shareholdings to the public following its listing.

The proceeds will be used to add 500 more stores in the country between 2025 and 2027, with a target to have a network of more than 1,500 outlets in the country by the end of the period; grow market share; pay off debts; and "enhance operational presence" via warehouse automation.  It has allocated THB 4.5 bn for a large scale automation warehouse to enhance logistics and supply chain capacity.

Mr. DIY claims to hold a nine per cent share of the Thai home improvement market. As market leaders reel from the impact of runaway household debt on consumption in the country, Mr. DIY is looking to grow at a compounded…