CJ Express Group Co, the retail chain founded by the energy drink tycoon Sathien Setthasit, is considering an initial public offering to raise at least 18 billion baht, according to people familiar with the matter.
The company, whose biggest shareholder is also the chief executive of Carabao Group Plc, is working with advisers on an offering that could take place as soon as next year, the people said, asking not to be identified as the information is private. The offering could raise between 18 billion and 28 billion baht, one of the people said.
