Chiwathai Public Company Limited, or CHEWA, is offering for sale long-term non-subordinated senior unsecured debentures with a guarantor, with a debenture holders’ representative, and with the issuer’s right to redeem the debentures before the maturity date, in 2 tranches: a tenor of 1 year 7 months with a fixed interest rate of 7.40% per annum, and a tenor of 1 year 11 months with a fixed interest rate of 7.60% per annum, with interest paid every 3 months. The offering is made to institutional investors and large-lot investors through branches and online channels of 4 leading securities companies, with subscriptions open from September 14 – 16, 2569 (2026).
CHEWA has Chatt Chiwa Company Limited as its guarantor and major shareholder, holding a 67.64% stake. The company operates as a Holding Company with income primarily from dividends. As of the end of 2568 (2025), the guarantor had total assets of 1,692.88 million baht and shareholders’ equity of 1,625.47 million baht, representing a shareholders’ equity to total assets ratio of approximately 96%, or total liabilities of only 67.41 million baht, reflecting a capital structure with no significant debt burden. In addition to CHEWA, the guarantor also holds shares in other companies, such as Tun Paiboon Company Limited, which is primarily engaged in investing in financial businesses, with net operating profit of 112.59 million baht for the fiscal year ending 2568 (2025), among others.
CHEWA is primarily engaged in residential real estate development, focusing on developing housing projects for middle- and high-income customer groups, with brands under its umbrella such as Chiwathai, Chiwa Home, Chiwa Rom, and Chiwa Wan. As of Q2 2569 (2026), CHEWA had a backlog awaiting ownership transfer of 738 million baht, which is expected to be transferred for revenue recognition in 2569 (2026). In addition, CHEWA is expanding into recurring income businesses, with 4 factory buildings for lease within the Amata City Industrial Estate in Rayong province currently under construction, expected to be completed and gradually generate revenue from Q4 2569 (2026) onwards.
Large-lot investors interested in subscribing to the debentures can subscribe with a minimum of 100,000 baht and multiples of 100,000 baht per increment. Currently, the company is in the process of filing the registration statement for the offering of debt securities and the draft prospectus with the SEC, which are not yet effective. Investors can study further details in the registration statement for the offering of debt securities and the draft prospectus at www.sec.or.th, or inquire for more details from the 4 debenture placing agents, namely:
- Bluebell Securities Company Limited, Tel. 02-2492999
- Dao Securities Company Limited (Public), Tel. 1538 ext. 1
- Merchant Partner Securities Company Limited (Public), Tel. 02-6606688
- Apollo Wealth Securities Company Limited, Tel. 02-1808088
Warning: Investments carry risks. Investors should study and understand the product characteristics, return conditions, and associated risks before making an investment decision.
