GIC-Backed Line Man Said to Gear Up for $300 Million IPO
- Food delivery unicorn taps local advisers for IPO work
- Line Man Wongnai is interviewing international banks as well
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Line Man Wongnai, an on-demand delivery app in Thailand, has started preparations for an initial public offering in Bangkok that could raise around $300 million, according to people with knowledge of the matter.
The startup is working with local advisers including Kasikorn Securities Pcl and Kiatnakin Phatra Securities Pcl on the potential first-time share sale, the people said. The company, backed by Singapore’s sovereign wealth fund GIC Pte, is also interviewing international banks to help arrange the offering, said the people, who asked not to be identified as the process is private. A listing could happen as soon as next year, they said.