Siam Inter Auction files for IPO to list on Thailand's mai market

Siam Inter Auction Public Company Limited (SIAA) has filed a prospectus with the Securities and Exchange Commission to launch an initial public offering (IPO). The company plans to offer up to 94.10 million shares, representing no more than 32% of its total shares, for listing on the Market for Alternative Investment (mai) under the service industry sector.

Yuanta Securities (Thailand) is serving as the financial advisor for the offering. The proceeds from the IPO are intended to expand the company’s infrastructure and auction yards, as well as to invest in advanced technologies including Artificial Intelligence (AI), the Internet of Things (IoT), and automation to enhance service efficiency and support future growth.

SIAA specializes in comprehensive auction services for used vehicles and related assets, including cars and motorcycles. The company’s client base primarily consists of legal entities such as financial institutions, leasing companies, and car rental operators. Currently, the company operates 47 storage branches and 8 auction yards across Thailand. SIAA has established a dividend policy of at least 40% of net profit from separate financial statements.