CHIC revealed that the SEC counted day 1 for IPO application and filing for the IPO of 360 million

Stocks and Financial Services Press Releases Tuesday April 17, 2018 12:42
Bangkok--17 Apr--Worklink PR

CHIC revealed that the SEC counted day 1 for IPO application and filing for the IPO of 360 million shares for enlisting on the mai with the objective to expand its local and international branches through the distribution channel development of E-Commerce to serve customer growth in the future, showing its outstanding performance of being the first and only home fashion store business in Thailand as well as the unique design of furniture and home decor of CHIC and RINA HEY brands, covering all group of customers. Phillip Securities, the financial advisor, is confident with the continuity of the business expansion after the capital raising.

Mr. Kijja Pattamasattayasonthi, Managing Director of Chic Republic Pcl., or CHIC, the retailer of furniture, mattress and bedding, home decor, and housewares, the stand alone store under the brand "Chic Republic (CHIC) and "RINA HEY", disclosed that the Company had submitted its filing form to the Securities and Exchange Commission Office for the issuance of the Initial Public Offering (IPO) of 360 million shares at the par of 0.50 baht per share which were expected to be listed on the mai. On 12 April, the SEC counted day 1 for IPO application and Company's filing.

The objective of capital raising is to finance store expansion. The Company has the business operation of complete retail store of furniture, home decor, housewares, lighting, mattress and bedding in the form of stand alone store under the brand "Chic Republic" (CHIC) and "RINA HEY".

The Company's store is the first and only home fashion store in Thailand which presently consists of 4 branches located in the potential areas being the centers of large urban community, namely, Praditmanutham, Bangna, Ratchapruek and Pattaya, with the unique and extraordinary design of furniture, home decor, lighting, and mattress and bedding, matching the demand of the target group under the concept of "Home Fashion Living". The products under the brands CHIC and RINA HEY have differences in terms of design and lifestyle of the utilization which cover the demands of all groups of customers. In addition, the Company also provides commercial space for rent within branches to attract more customers to them as the strategy to establish exceptionality and difference to every branch.

Mr. Vicha Tomana, Managing Director, Investment Banking Department of Phillip Securities (Thailand) Plc., as the financial advisor and the lead underwriter of the IPO of CHIC said CHIC's 500 million of the paid-up capital would increase to 680 million baht with the par at 0.50 baht per share after the IPO of 360 million shares, accounting for 26.47% of the total shares.

CHIC has a project to develop the Company's website for the E-Commerce which is expected to start the operation in quarter 2 of 2018 and a plan to expand another 5 branches within 5 years, starting from 2018. There are 3 branches under development, namely, 1) Cambodia branch at Aeon Mall Sen Sok City, Phnom Penh which is to be opened in quarter 3 of 2018; 2) Ram Indra branch which is expected to be opened in 2019; and 3) Udonthani branch which is expected to be opened in 2020. In addition, the Company also has a plan to open a new branch in major provinces of each region of the country either Northern region such as Chiang Mai, and Southern region such as Phuket, or Hat Yai, etc.

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