Thailand's largest IPO braves market, priced near top of range

SINGAPORE/HONG KONG - Thailand’s largest retailer, Central Retail Corp, priced its initial public offering near the top end of an indicative range, in a deal worth about $2.6 billion, setting up the listing of the country’s largest IPO this month.

The launch of the IPO comes as global markets have weakened on worries that a new coronavirus outbreak in China would dampen economic growth globally. Since then, the virus outbreak in China has escalated and the economic impact of the epidemic has been felt globally. Thailand's stocks index“The negative sentiments surrounding markets and weakening Thai economy are short-term bearish concerns, still the quality of Central Retail’s asset base justifies the IPO price,” said Oshadhi Kumarasiri, an equity analyst at LightStream Research, who writes on Smartkarma platform.

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