Thailand’s biggest retailer of mobile phone Jaymart Plc plans to offers 75 million new common shares in IPO to fund its market expansion project and retire outstanding debts, chairman Adisak Sukhumwittaya said on Tuesday.

Jaymart said it has file for a listing of its 75 million new common shares at par value of one baht each in an initial public offering for the Securities and Exchange Commission approval to be trade on the Stock Exchange of Thailand’s electronic board.

Asia Pus Securities has been appointed as underwriter for the listing.

Mr. Adisak said Jaymart is mulling business expansion into debt collection services, which also supports its existing businesses.

The company currently has 191 stores nationwide and is looking into utilize its stores spaces to maximum capacity.