BANGKOK: MR. D.I.Y. Holding (Thailand) has applied to Thailand's Securities and Exchange Commission (SEC) for an initial public offering (IPO) en route to its listing on the Stock Exchange of Thailand.

In a statement, MR. D.I.Y. Thailand said Bualuang Securities Plc and CIMB Thai Bank Plc have been appointed as financial advisors to proceed with the listing exercise.

Its chief executive officer Andy Chin said that this year, the company celebrates its eighth year of successful operations in Thailand.

"Over this period, we have witnessed substantial growth in the general home improvement and lifestyle segment, prompting us to significantly expand our store presence.

"We added 121 new stores in 2021, 158 new stores in 2022, and 184 new stores in 2023, equivalent to a compound annual growth rate (CAGR) of 36.3 per cent from 2021 to 2023," he said.

MR. D.I.Y. Thailand is the largest and fastest-growing general home improvement and lifestyle retailer in Thailand, with over 77 million customers served annually in 2023.

It opened its first store in 2016 and has since rapidly expanded its presence with 802 stores widely distributed in 74 provinces across Thailand, supported by a dedicated team of over 9,700 employees as of June 30, 2024.

Chin emphasised that the group aims to drive sustainable growth and create a positive impact in communities through job creation and collaboration with local manufacturers and suppliers

"According to research from Frost & Sullivan, MR. D.I.Y. Thailand holds a prominent market leader position in the general home improvement and lifestyle segment with a 7.4 per cent market share.

"This strong position reflects our solid foundation, while the single-digit market share also signals significant room for future growth," he said.

Chin stressed that with these opportunities in mind, the company is dedicated to furthering its expansion across Thailand.

"We are dedicated to furthering our expansion across Thailand. Our strategy involves broadening our product offerings, enhancing the customer experience and increasing our store footprint across Thailand," he said.

Apart from Malaysia and Thailand, MR. D.I.Y. is also present in Brunei, Indonesia, Singapore, the Philippines, Cambodia, Vietnam, India, Turkiye, Bangladesh and Spain.

 - BERNAMA