Synnex (Thailand), a computer, software and electronic component distributor, will file for a listing of its common shares in an initial public offering with the Stock Exchange of Thailand next month. Subscriptions for the bidding of 205 million shares scheduled from June 4 through 6.

Synnex president Supant Mongkolsuthree said the price range had not been set yet for but would be below three baht and trading on the SET will begin on June 16.

Synnex expects to raise around five hundred baht from the offering to expand its business franchise and increase working capital.

Of 205 million common shares to be float, 108 million shares will be allocated to general shareholders. Another 25 million new shares will be reserved for conversion of the company’s warrants.

Synnex hopes to open 20 franchisees stores nationwide by the year end with 250 stores expected over the next five years.

The company assembles around 4,000 computers per month, targeting at middle-class buyers.

Mr Supant declined to deliver details on performance; saying that net profits rose 30% from last year in the first quarter with turnaround increased 19%.