Jaspal, the Bangkok-based ready-to-wear clothing company, is planning to float shares on the Stock Exchange of Thailand (SET) this year to mobilise fresh funds for expansion of its fashion and lifestyle business.
The company is planning to offer a maximum of 156 million shares in an initial public offering (IPO) recently filed via a listing proposal submitted to the Securities and Exchange Commission (SEC).
Kasikorn Securities (KS) was appointed as a financial advisor for the IPO.
The IPO shares account for no more than 26% of Jaspal's paid-up capital.
The listing application and draft prospectus are being considered by the SEC and the SET, said KS deputy managing director Thinnaphan Wanglee.
Jaspal chief executive Charan Singhsachathet said the company and its subsidiaries have produced and distributed fashion and lifestyle products under the group's in-house brands, other franchised brands and imported brands that are accepted by customers both domestically and overseas.
The group has 19 brands under its umbrella including Jaspal, Misty Mynx, CC Double O, CPS Chaps, Lyn, Lyn Around, Fred Perry, Diesel and Superdry.
The group has more than 113,000 stock-keeping units (SKUs) covering clothing, jewellery, shoes, bags, cosmetics and eyeglasses.
Jaspal is also a manufacturer and distributor of mattresses and bedding, home furnishings and furniture under six in-house and imported brands, with more than 21,500 SKUs of products.
These brands include Santas, Santas Home, Stevens, Sealy, Tempur and Ethan Allen.
"Jaspal is a leader in the fashion business in Thailand and other Asean markets," said Mr Charan.
"The company has a leading market share in the domestic specialised clothing and footwear sector, based on Euromonitor International's industry report, with more than 70 years of experience in the upstream to downstream fashion business."
Jaspal has 462 branches in both domestic and international markets, staffed by talented personnel who understand the fashion industry and are aware of the changing trends and sourcing expertise across a diverse brand portfolio, he said.
The group utilises efficient inventory management to support all distribution channels, including the online marketplace, said Mr Charan.
