Line Man Wongnai, a Thai tech startup backed by Singapore’s sovereign wealth fund GIC, is exploring the possibility of an initial public offering (IPO) in either Hong Kong or New York, according to CEO Yod Chinsupakul.
This comes after the company postponed its plans to list domestically in Thailand due to unfavorable market conditions.
The company, which operates services in food delivery, ride-hailing, and digital payments, has cited Thailand's challenging macroeconomic environment—ranging from economic slowdown to political instability—as key factors in its decision to consider listing abroad.
Chinsupakul said the final decision will be made by the end of June.
The company, which has grown rapidly since its inception, had initially planned to launch an IPO in Thailand but is now weighing options in more established financial markets. Hong Kong and New York are both known for hosting tech IPOs, with large pools of institutional investors and a more robust stock exchange environment.
The decision comes as Line Man Wongnai looks to capitalize on growing demand for its services across Southeast Asia. The company has expanded rapidly in recent years, benefiting from the surge in e-commerce and digital payments in the region.
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