Bangkok: The Market for Alternative Investment (MAI) welcomes Laundry You Public Company Limited (WASH), which will begin trading on November 3rd. WASH is a leading provider of full-service laundry services under the brand "WashXpress." Funds raised will be used to expand the number of WashXpress laundry branches and renovate existing ones.
According to Thai News Agency, Mr. Prapan Charoenprawat, Managing Director of the Market for Alternative Investment (mai), stated that the mai welcomes Laundry You Public Company Limited's listing and commencement of trading on the mai under the Services category, using the abbreviation "WASH" on November 3, 2025. WASH is a full-service laundry service provider offering industrial washing machines and dryers under the "WashXpress" brand. The company also provides franchise rights to other companies and distributes industrial washing machines and dryers. WashXpress laundromats offer both self-service and full-service options, including wash, dry, and fold services, ironing services, and bulk laundry services for corporate clients. The company has developed the "WashXpress" mobile application to facilitate branch search and payment. As of June 30, 2025, there were 548 laundromats in total, covering 21 provinces in Bangkok and its vicinity, secondary cities, and major provinces. Divided into 469 company-owned br anches and 79 franchise branches, for the 6-month period of 2025, the company had a proportion of income from services: selling products: franchises: selling washing machines, dryers, and other income in the proportion of 94:3:1:2.
Mr. Kavin Klongkratok, CEO of Laundry You Public Company Limited (WASH), stated that the company has developed a full-service laundry business under the concept of "Clean, Convenient, and Comfortable." Each branch will have at least one person responsible for managing the laundry and provide free hot water tub cleaning before use. The stores are conveniently located near communities, have parking, and are open 24/7. They also offer coin exchange machines, vending machines for laundry, and a 24-hour call center. The funds raised will be used for investment in expanding the number of branches, renovating and upgrading existing WashXpress laundromats, and as working capital.
Offering information reveals that WASH has a paid-up capital after the IPO of 176.47 million baht, with a par value of 0.50 baht per share, consisting of 300 million existing common shares and 52.94 million newly issued common shares. Another 52.94 million existing common shares will be allocated by Holistic Impact Pte. Ltd. to be offered to persons at the discretion of the underwriter and institutional investors, not less than 79.41 million shares, to the company's benefactors not exceeding 15.88 million shares, and to the company's employees not exceeding 10.59 million shares. The offering will be made to all types of investors between October 24-28, 2025, at a price of 7.5 baht per share, totaling 397.06 million baht in fundraising and 794.12 million baht in offering value. The market capitalization at the IPO price is 2,647.06 million baht. The IPO offering price is based on a price-to-earnings ratio (P/E ratio) of approximately 24.51, calculated from the net profit of the last 4 quarters (1 July 2024 - J une 30, 2025), which is equal to 107.99 million baht divided by the total number of common shares after this share offering (fully diluted), resulting in a net profit per share of 0.31 baht, with Yuanta Securities (Thailand) Co., Ltd. acting as financial advisor and underwriter and distributor of common shares.