Sathien Sathienthamma, Chief Executive Officer of Carabao Group Public Company Limited, or CBG, revealed that the company aims to list its CJ MORE business on the stock exchange by 2029, even though it had previously postponed plans to take the company public in Thailand. It is currently still considering whether to list on the Thai stock exchange or a foreign exchange, after several overseas markets approached it with invitations, including the Hang Seng exchange in Hong Kong, the Singapore exchange, and the NASDAQ in the United States. However, no decision has been made on which market to choose, because the company wants to focus on expanding growth amid a domestic economy that has not yet recovered and slowing purchasing power. As for CJ MORE's target for 2026, it has set a sales goal of 80 billion baht, which it is confident it can achieve, after generating sales of 50 to 60 billion baht over the past eight months. It is also maintaining its target of reaching 100 billion baht in sales by 2027, by adding another 700 branches, up from 500 branches added this year. It expects to have a total of 2,500 CJ MORE branches nationwide by the end of this year, up from 2,100 branches at present. The average investment for expanding each branch is 9 to 10 million baht, which does not yet include investment in a new warehouse that may be considered for the North or the South in 2027. Meanwhile, rising oil prices affect the costs of the CJ business and the Carabao group by only 0.5%, which is considered manageable. In addition, the company is pressing ahead with its CJ STAR project, a star-rating program for good products, which currently has 14 operators that have received star ratings, covering 21 product items. These have begun selling through a network of more than 538 CJ MORE stores in the central, eastern, and western regions, and are ready to expand to a network of more than 2,100 CJ MORE stores already in operation, covering more than 60 provinces nationwide.
Carabao Group Public Company LimitedCBG aims to list its CJ MORE unit on an exchange by 2029, a capital-markets event for the parent.
