Retail giant Casino’s Thai arm Big C plans to issue shares in the business to fund expansion.

Big C plans to raise THB25bn (US$806.3m) through the rights offer to finance a three-year expansion plan in Thailand and become one of the largest modern food retailers in the region.

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A spokesperson for Casino said today (20 October) that Big C has identified potential acquisition opportunities in Thailand and elsewhere in the region.

Big C also aims to repay the loan it took out to fund its acquisition of Carrefour’s Thai operations last year and strengthens the company’s balance sheet.

The rights offer is due to take place in December and the retailer’s shareholders will vote on the plan next month.

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