Aug. 7--The home products distributor Siam Global House will float 260 million shares in an initial public offering from Aug 10-13 at 2.55 baht per share.

The shares are expected to begin trading on the Stock Exchange of Thailand on Aug 19. Lead underwriters for the IPO are Kim Eng Securities, Finansia Syrus Securities, ACL Securities and Capital Nomura Securities. Another 19 brokers are sales agents for the offering.

Montree Sornpaisarn, chief executive of Kim Eng Securities, said the company has posted steady growth since it opened its first provincial branch in Roi-Et in 1997 at the height of the Asian economic crisis.

He said the company's impressive track record, nationwide branch network and financial performance would help draw investors to the offering.

Sompop Sakphanpanom, the chief executive of Asset Pro Management, the financial adviser for the offering, said Siam Global currently operated branches in seven provinces, each boasting 18,000 to 28,000 square metres of space.

The company's revenues in 2008 totalled 4 billion baht, with growth of 24.39 percent from the year before. First-quarter revenues totalled 1.02 billion baht.

Mr Sompop said investor interest following roadshows in Bangkok and 11 provinces has been high, thanks to the company's strong image as a "one-stop shopping centre" for home products.

Witoon Suriyawannakul, the chief executive of Siam Global House, said funds raised from the offering would be used for working capital and to finance new branch expansion, including its 140-rai complex located at Muang Thong Thani.

He said the company was convinced it could meet its sales growth target of 20-25 percent this year, as the overall economy and investment climate improved under the government's new infrastructure investment programmes.

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