Berli Jucker clarifies on reports about IPO issue to relist Big C on SET
Berli Jucker Public Co Ltd (BJC) on Wednesday notified the Stock Exchange of Thailand (SET) that it has not made a decision to relist its subsidiary, Big C Supercentre Pcl, on the SET through an initial public offering (IPO).
The company was responding to a news report by Bloomberg on Tuesday that it was looking to raise more than US$500 million (18.5 billion baht) and was currently in discussions with investment banks to seek proposals for the share sale, which could take place as early as next year.
Bloomberg cited an unnamed source familiar with the matter.
BJC said it would notify the SET once there was progress in the matter.
Big C was established in 1993 by the Central Group. In 2012, the firm raised over 4.2 billion baht through an IPO.
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 3.1 billion euros. Later in 2017, Berli Jucker Pcl, a subsidiary of TCC, acquired Big C and the company was subsequently delisted.
Big C Supercenter Pcl now operates a chain of supermarkets and convenience stores at 1,792 locations in Thailand, Vietnam, Laos and Cambodia. Earlier this year, the company acquired 18 Kiwi Mart stores in Cambodia under a plan to rebrand them as Big C Mini.
