Big C Retail Corp., a supermarket and convenience store company controlled by Thailand’s richest person, postponed a planned initial public offering, citing market conditions.
The unit of Berli Jucker Pcl, billionaire Charoen Sirivadhanabhakdi’s listed conglomerate, delayed the stock listing after the management considered the interest of shareholders and other stakeholders, Big C Chief Executive Officer Aswin Techajareonvikul said in a statement.
Big C was seeking to raise about $1 billion in its first-time share sale, Bloomberg News reported in January. The company will revive the share sale plan again as soon as capital market sentiment improves, he said.
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