12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
Vietnam a focus market for Thai’s Central Group after US$8.1billion IPO
Ngoc Thuy 09:18, 2020/02/21
In the next five years, Vietnam's contribution will rise to 25% from the current 17% to revenue of Central Retail, said the company’s CEO.

Vietnam is a focus market for Central Retail, a subsidiary of Thailand’s retail conglomerate Central Group, after its record IPO of US$8.1 billion, according to Nikkei Asian Review.

 Illustrative photo.

The retail conglomerate has grown around its department store business. As of last September, Central Retail operated 1,922 stores in Thailand, 133 in Vietnam, and nine in Italy.

At present, 75% of its revenue comes from Thailand, 17% from Vietnam, and 7% to 8% from Italy. "In five years, Vietnam's contribution will rise to 25%," said Central Retail CEO Yol Phokasub in an interview with Nikkei.

Central Retail's IPO raised US$2.42 billion, the largest ever in Thailand’s stock market. The prospectus suggested the proceeds will be used to expand and renovate its domestic and international store networks.

Central Group Vietnam is a member of Central Group, which has been present in Vietnam since July 2011. The group's business activities in Vietnam range from electronics, sports, fashion, shopping centers and hotels to e-commerce and supermarkets.

The group made the headline in Vietnam following its acquisition of a chain of 33 supermarkets and hypermarkets owned by Big C for US$1.05 billion in April 2016. 

Shares of Central Retail ended at US$1.33 at its debut on the Stock Exchange of Thailand on February 20, equivalent to a market capitalization of US$8.1 billion, making it the 13th-largest company on the exchange.

TAG: Vietnam Thailand retail market IPO
Other news
15:32, 2023/32/09
China's Sunny Group plans US$2.5 billion investment in Vietnam
The Vietnamese Government will ensure favorable conditions for Sunny Group to succeed in their investment and business operations in the country.
21:51, 2023/51/06
$8 billion to be pumped into Vietnam’s Central Coast
Seven international partners will support the investment in infrastructure, transport, urban development, and climate response.
16:26, 2023/26/02
FDI to Vietnam’s real estate rises by over 70% in 2022
Vietnam's real estate market continues to show strong appeal to foreign investors despite global economic difficulties.
21:36, 2023/36/12
Laos vows to facilitate Vietnam's investors
The Government of Laos pledged to amend the law to facilitate the investment of Vietnamese companies that have poured more than US$5.34 billion in the neighboring country so far.
17:49, 2023/49/02
Hanoi lures nearly $1.7 billion in foreign investment in 2022
The capital city ranks among the top localities in foreign direct investment attraction.
17:33, 2022/33/11
European Investment Bank will provide Vietnam climate finance
Vietnam's Minister of Finance will visit Luxembourg soon to discuss the update of mutual agreements and address issues in regard to EIB-funded projects in the Southeast Asian country.