Laundry You (WASH), operator of the WashXpress launderette chain, is to list on the Market for Alternative Investment with an initial public offering (IPO) price of 7.50 baht a share.
The subscription period will be on Oct 24 and 27-28. The funds raised will be used to expand its company-owned branches during 2026-2027, targeting a total of 160 new outlets. The company expects to raise 794 million baht in the IPO.
Laundry You also plans to upgrade the quality of existing stores and allocate part of the funds as working capital.
The IPO comprises up to 105.88 million shares, representing 30% of WASH’s total paid-up capital after the offering, includes both newly issued shares and existing shares offered by shareholders.
Yuanta Securities (Thailand) is the financial adviser and lead underwriter, while Finansia Syrus Securities, Krungsri Securities, KGI Securities (Thailand), and Daol Securities (Thailand) serve as co-underwriters.
Kawin Klongkratoke, chief executive of Laundry You, said the company operates three main business units: launderettes under the WashXpress brand, a franchise business, and sales of washing machines, dryers, and related products and services.
As of June 30, the company operates 548 shops, with 469 following the owner-operator model.
He said the company-owned launderettes contribute the majority of the company’s revenue.
Despite intense competition in Thailand’s launderette industry, Mr Kawin believes there is still room for expansion in both Bangkok and the provinces.
He said that most competitors mainly operate under a franchise model, which may face challenges in maintaining service standards. In contrast, the company focuses on company-owned stores to ensure control over outlets and services.
The company aims to add 80 stores this year, having already opened 34 stores in the first half of 2025.
Mr Kawin said the company plans to introduce additional services such as wash-and-fold, clothes binding, and delivery services.