Shearman & Sterling and Bangkok-based The Capital Law Office have advised Thailand’s Central Retail Corporation (CRC) on its 78.1 billion baht ($2.6 billion) initial public offering, with Allen & Overy advising the joint managers. 

This is the largest listing in Thailand, beating the previous record holder, BTS Rail Mass Transit Growth Fund’s $2 billion offering in 2013. 

CRC, which is part of the billionaire Chirativat family’s Central Group, is the largest retailer in Thailand. The organisation’s plans to go public were first announced in July last year.

According to CRC, funds raised will be used to expand its domestic and international businesses and to pay off debt. 

The Capital Law Office team was led by partners Patraporn Milindasuta and Paradorn Leosakul.

 

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