Bangkok--14 Sep--SET
The Stock Exchange of Thailand (SET) welcomes Hot Pot pcl to its Market for Alternative Investment (mai). The company will list and start trading on September 18, under the ticker symbol "HOTPOT," with a market capitalization at its initial public offering prices of THB 1.14 billion (approx. USD 35.5 million).
Hot Pot operates international buffet restaurant chains under an “All You Can Eat” concept with 126 branches nationwide, consisting of 106 Hot Pot and 20 Daidomon restaurants, mainly locating on shopping malls or modern trade malls.
Hot Pot has a paid-up registered capital of THB 101.50 million, with a par value of THB 0.25 each, consisting of 344.62 million existing common shares and 61.38 million new shares. It sold 101.98 million shares at THB 2.80 per share for THB 285.54 million during its IPO on September 7 and September 10-11. Of these IPO shares, 61.38 million shares were newly issued, and 40.60 million shares were a part of existing common shares owned by Aureos South-East Asia Fund. The fundraising proceeds will be used for adding new and renovating existing branches, as well as repaying debt and for working capital. Advisory Plus Co. Ltd. is the company’s financial advisor and Bualuang Securities pcl is its underwriter, said mai President Chanitr Charnchainarong.
Sakuna Baicharoen, Deputy CEO of Hot Pot pcl, said: “We are deeply honored and proud to be listed on mai. HOTPOT is a leading international buffet restaurant under the brands — HOT POT Inter, HOT POT Buffet, HOTPOT Buffet Value, Ramen Buffet, HOTPOT Suki Shabu, HOTPOT Prestige, and Daidomon, which serves grilled Japanese food. This fundraising through mai will enable the company to establish more branches in the central and other regions of the country, while providing additional working capital to accommodate the sustained growth of HOTPOT.”
Hot Pot's three major shareholders after IPO and the 13.53-million-share sale of Government Savings Bank Private Fund to Aureos South-East Asia Fund, are Roekwibunsi group (53.22 percent), Aureos South-East Asia Fund (13.14 percent), and Government Savings Bank Private Fund managed by One Asset Management (6.57 percent). The THB 2.80 IPO price was based on a book-building process which had offered a range of THB 2.60-2.80 a share. The company’s dividend policy is to pay no less than 40 percent of net profits after corporate taxes and reserves.
For more information on Hot Pot, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.hotpot.co.th and www.mai.or.th
**Note: under an investment agreement between Aureos South-East Asia Fund and Government Savings Bank Private Fund managed by One Asset Management, they have to jointly investment and divestment. However, the share sale of Aureos was done by itself. Then, to follow the agreement, the Government Savings Bank Private Fund would sell a 13.53-million-Hot Pot-share to Aureos ahead of the first trading day of Hot Pot.
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