Mobile phone and accessories retailer JMART announced price for its initial public offering at 1.8 baht per share.

The company said it would spin off 75 million shares, which will start trading on the Stock Exchange of Thailand from June 25.

Of 15 million shares are reserved for company’s management and similar investors.

Traders are welcome to subscribe for shares bidding on June 17 to 18. A total of 60 million shares would go to the public.

JMART’s chief executive Adisak Sukhumvitaya said the company perceived a net profit of 20 million baht for the first quarter of the year on total revenues of 1.2 billion baht.

JMART total revenues for 2008 were 5.5 billion baht with net profit of 97 million baht.

Mr. Adisak said he expects the higher net profit this year, helped by sales growth in the company’s three core businesses including mobile phone, space-rental, and debt-collection services.