Euro Creations pcl, an importer and distributor of luxury furniture and home decorations, will begin quotation today on mai under ticker “EURO”.
Listing of Euro Creations on mai
Market for Alternative Investment (mai) is set to list Euro Creations pcl on February 14 under the ticker symbol “EURO”. Euro Creations is an importer and distributor of furniture and home decorations with a market capitalization of THB 3.23 billion (approx. USD 89.87 million) at its initial public offering (IPO). The company will be listed in the Consumer Products industry group.
Overview of EURO’s IPO and Business Expansion
Euro Creations is the importer and distributor of leading luxury brands’ furniture and home decorations, with five showrooms in Bangkok. The IPO includes 55 million newly issued shares and the company’s major shareholders are the Gambir family (59.54 percent) and the Amornrattanavej family (14.89 percent).
The fundraising proceeds will be used for business expansion, including building new showrooms, loan repayment, and working capital. The company’s dividend policy is to pay at least 30 percent of net profit from its separate financial statements after tax and legal reserves.
