In Shops

Thailand’s IT retail chain listing to raise USD31m for ASEAN expansion

Comseven International Co, a leading IT retail chain, plans to list on the Stock Exchange of Thailand next year in order to raise funds to expand its ASEAN footprint.

"We believe the local IT retail business over the next three years will continue growing at a double-digit rate, thanks to the still-low personal computer penetration of only 20 percent while the country’s internet penetration is 40 percent," said Sura Kanitthaveekul, chief executive of Comseven International.

To chase growth more aggressively, he said Comseven would need at least THB1 billion (USD30.8 million) to increase the number of its retail shops under the Banana IT brand, Banana Mobile, iStudio and I Beat to 500 branches by 2017, up from the current 300.

(Source: Bangkok Post)

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