* Big C's IPO could raise as much as $1 bln - sources

* CPF Global Food is expected to raise up to $1.5 bln - sources

* Both IPOs would be biggest since July last year

SINGAPORE, June 16 (Reuters) - Two Thai companies aim to raise as much as $2.5 billion combined from initial public offerings on the Bangkok stock exchange, said two people with direct knowledge of the planned listings, which could join a growing pipeline of Southeast Asian IPOs this year.

Big C Supercenter, the supermarket arm of Thai listed trading group Berli Jucker controlled by billionaire Charoen Sirivadhanabhakdi, could raise as much as $1 billion in an IPO as early as the fourth quarter of this year, said the sources.

CPF Global Food Solution, a unit of Thai food conglomerate Charoen Pokphand Foods, is also expected to raise as much as $1.5 billion and debut on the local stock exchange as early as the year-end, they said, declining to be named as the matter is confidential.

Big C and CPF Global Food did not immediately respond to Reuters' requests for comment.

Both IPOs would solidify Southeast Asia's current status as a global IPO hot spot. Refinitiv data showed the IPO market in Southeast Asia has grown this year, rising 6.9% to $2.66 billion as of mid-June. Apart from Japan, nowhere else in the Asia Pacific region, has shown growth.

The two listings would give a lift to Thailand's IPO activity, which has raised $454 million this year, according to Dealogic data. The last IPO of a similar size was Thai Life Insurance, which raised almost 35 billion baht ($1.01 billion) in July last year.

The IPOs could provide an insight into investors' appetite for Thailand following the change in government last month.

Berli Jucker acquired Big C in March 2016, according to the company's latest fact sheet posted on its website. Big C operates near to 2,000 stores including hypermarkets, supermarkets, convenience stores and pharmacies in Thailand, Laos, Cambodia and Vietnam.

Berli Jucker approved the IPO in March.

CPF Global Food Solution distributes fresh and processed food products in Thailand and overseas, according to its website. Its businesses comprise fresh meat, processed food, restaurants, pet food and other products including sauces and dairy, its website shows.

Charoen Pokphand filed for the IPO in April. ($1 = 34.6300 baht)

(Reporting by Yantoultra Ngui in Singapore; Additional reporting by Devjyot Ghoshal and Chayut Setboonsarng in Bangkok, Vineet Sachdev in Bangalore; Editing by Kane Wu and Simon Cameron-Moore)