Line Man Wongnai, the popular Thai on-demand delivery platform, is currently gearing up for its initial public offering (IPO) in Bangkok. This strategic move signifies the company’s decision to make shares available to the public for the first time, allowing interested investors to purchase ownership stakes in the business.
Here are the main points to note:
- Line Man Wongnai is scheduled to go public through its IPO planned for the third quarter of 2025.
- The company was established in 2020 through the merger of Line Man and Wongnai.
- Between 2023 and 2024, Line’s food sector experienced growth exceeding the industry average.
- The company’s IPO is set to take place on the Stock Exchange of Thailand (SET) in the third quarter of 2025.
By opting to go public in Bangkok, Line Man Wongnai is looking to access the local investor market and potentially enhance its activities with the capital raised. This move could also elevate the platform’s visibility and credibility in the region.
After being listed on the Stock Exchange of Thailand (SET), the company will be among the pioneering ones of its kind to go public.
The announcement regarding the IPO was made by Yod Chinsupakul, the company’s CEO, who expressed confidence in its future growth. Line Man Wongnai has the support of Singapore’s sovereign wealth fund GIC, and the IPO could generate around 10 billion baht.
The CEO highlighted Line’s business expansion in 2023 and 2024, particularly mentioning that Line’s food sector outperformed the industry due to its diverse range of offerings and pricing strategies.
Looking ahead, Line Man Wongnai aims to grow its user base to 50 million in the long term, up from the current 26 million users. With a vast database of local restaurants reaching 1.6 million shops, the platform significantly contributes to promoting Thai cuisine as a cultural influence.
Moreover, the company is extending its services to international tourists by integrating a mini-app within the WeChat platform, enabling Chinese visitors to order Thai food. This move aligns with broader efforts to reinforce Thailand’s cultural presence globally.
Line Man Wongnai’s origins can be traced back to 2010 when graduates from Chulalongkorn University founded Wongnai, an online platform for restaurant reviews. The merger with Line Man in 2020, a delivery service by Line, the popular messaging app in Thailand, has positioned the company as a strong player in the food delivery segment, competing with Grab and other similar services.
The upcoming IPO by Line Man Wongnai signifies a significant milestone for the company and the Thai digital platform industry. It underscores the company’s impressive growth and its dedication to contributing to Thailand’s economic and cultural landscape. As Line Man Wongnai moves forward with its IPO preparations, its journey will be closely monitored by investors and industry experts, setting a benchmark for other digital platforms in Thailand.
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