Bangkok: MRDIYT marked its debut on the Stock Exchange of Thailand (SET) with its share price opening 18.02% lower than the initial public offering (IPO) price. The stock began trading at 7.05 baht, down from the IPO price of 8.06 baht, reflecting a decrease of 1.55 baht.

According to Thai News Agency, the opening ceremony for MRDIYT’s first trading day on the SET saw participation from key figures such as Mr. Asadej Kongsiri, Director and Managing Director of the SET, Mr. Sorawit Krairiksh, Deputy Managing Director, Issuer and Marketing Department, SET, and Mr. Andy Chin Kwangui, CEO of MRDIYT. Despite the drop in opening price, the market capitalization at the IPO price stood at 51.747 billion baht.

Mr. Andy Chin Kwangui expressed optimism about the company’s growth prospects. As the largest and fastest-growing retailer in Thailand under the “MR. DIY” brand, MRDIYT aims to leverage this fundraising to enhance its branch expansion, develop automated warehouse systems, and improve product distribution. Established in 2016, the company already operates 1,027 stores across 77 provinces.

The company plans to expand its network by adding 200 new branches this year and maintaining the same pace of expansion through to 2027, targeting a total of 1,500 branches by then. Additionally, MRDIYT is set to purchase 160 rai of land for constructing automated warehouses, with these facilities expected to be gradually operational by 2028 and fully functional by 2030.