Carabao Founder’s CJ Express Said to Mull $500 Million IPO (1)

CJ Express Group Co., a retail chain founded by energy drink tycoon Sathien Setthasit, is considering an initial public offering in Bangkok to raise at least $500 million, according to people familiar with the matter.

The Thai supermarket company whose biggest shareholder is also Carabao Group Pcl’s chief executive officer is working with advisers on an offering that could take place as soon as next year, the people said, asking not to be identified as the information is private. CJ Express’s IPO could raise $500 million to $800 million, one of the people said.

Discussions are ongoing and ...