Bangkok--20 Nov--SET
The Stock Exchange of Thailand (SET) group, will list Carabao Group pcl, a leader in producer and distribution of energy drinks under Carabao Dang trademark on November 21, under the ticker symbol "CBG” in the Agro & Food Industry, Food & Beverage sector. The company has a market capitalization at its initial public offering (IPO) of THB 28 billion (approx. USD 848 million).
SET’s Executive Vice President Chanitr Charnchainarong said, “Carabao Group is a holding company, mainly investing in subsidiaries operating the production, distribution, sale and marketing of energy drinks and other products under Carabao Dang trademark. The company is a key player in the domestic energy drink market with a 21.3 percent share in the first seven months of 2014. It also produces and distributes a sport beverage called Start Plus.”
CBG has a paid-up registered capital of THB 1 billion, consisting of 850 million existing common shares and 150 million newly issued shares, with a par value of THB 1 each. The company offered 250 million shares to the general public during November 12-14 at THB 28 each, for a total of THB 4.2 billion. Kasikorn Securities pcl and CIMB Thai Bank pcl are financial advisors. Kasikorn Securities pcl and CIMB Securities (Thailand) Co.Ltd. are underwriters.
Carabao’s CEO Sathien Setthasit said that the fund raised would be used to repay debt to financial institutions borrowed to expand high speed beverage production line with “Krones” (An imported high-technology production line from Germany), build amber glass bottle factory, buy land and construct head office building. The raise will be use as working capital to enhance the company’s financial strength, boost growth prospects to become a leader of energy drinks in Thailand and the CLMV countries (Cambodia, Laos, Myanmar and Vietnam.)
CBG's three major shareholders after the IPO are Sathien Setthasit group (34.30 percent), Natchamai Thanombooncharoen group (26.6 percent) and Yuenyong Opakul Group (14.2 percent).The IPO price determined by book building process is equivalent to price per earnings ratio (P/E ratio) of 30.3 times, calculated by using the company's net profit in the past four quarters (Q4 2013 - Q3 2014) divided by shares (fully diluted) representing earnings per share of THB 0.93. The industry average P/E ratio is 27 times (from August to October 2014). CBG's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on CBG, 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.carabao.co.th , as well as www.set.or.th .
For more information, please contact S-E-T Call Center +66 (0) 2229 2222.
Members of the media should contact the Public Relations Unit, Corporate Communications Dept.:
Kanokwan Khemmalai, tel: +66 (0) 2229 2048 / Arada Kultawanich, tel: +66 (0) 2229 2796.