Thai home furnishing and decoration chain Chic Republic is offering 360 million shares in an IPO on the Thai Market for Alternative Investment.

The initial public offering, equivalent to 26.47 per cent of its registered capital, will raise funds to repay the firm’s debt and expand the business. The firm plans expand beyond its current four outlets with an additional five branches both within and outside of Thailand.

The first overseas branch will open at Aeon Mall 2 in Phnom Penh before the end of this year.

The company’s current paid-up capital is THB500 million (US$15.26 million), which is expected to increase to THB680 million (US$20.75 million) after the IPO.