Bangkok--7 Oct--SET
The Stock Exchange of Thailand (SET) will list Thai Foods Group pcl, one of the leading fully integrated poultry and pig producers, on October 8, under the ticker symbol "TFG". The company meets listing requirement by using market capitalization's criteria with market capitalization at its initial public offering (IPO) of THB 9.95 billion (approx. USD 276.3 million).
SET Executive Vice President Santi Kiranand said TFG would list and start trading on SET's Agro & Food industry, Food & Beverage sector on October 8. The company, an integrated livestock producer, had expertise in poultry and pig based in both Thailand and Vietnam. TFG's poultry business operation covered parent stock farms, meat farms as well as processing. The products could supply both the domestic market and export to Japan and Europe. TFG's pig business consisted of parent stock farms and sales. TFG also produced and sold animal food, mainly produced to supply its group.
TFG has a paid-up registered capital of THB 5.1 billion, consisting of 4 billion existing common shares and 1.1 billion newly-issued shares with a par value of THB 1.0 each. It offered newly-issued shares to the general public via IPO during September 29 to October 2, at THB 1.95 each, for a total of THB 2.15 billion. KT Zmico SecuritiesCo., Ltd. is its financial advisor and underwriter.
TFG's CEO Winai Taewsomboonkit said the fund raised would be used to expand its main business, invest in chicken meat processing, pig business and animal feed business, as well as for working capital and debt repayment. This listing would strengthen the financial capability and enhance Thailand's leadership role in the chicken meat producer and pig farm business, while expanding global distribution channels.
TFG's three major shareholders after the IPO are Mr.Winai Taewsomboonkit Group (79.07 percent), Mr. Ek Ngamtippan (1.26 percent), and KT ZMICO Securities Company Limited (1.16 percent). The IPO price was set by a book building process. The IPO method was based on market capitalization criteria. TFG's dividend policy is to pay no less than 50 percent of net profits after taxes and reserves.
For more information on TFG, 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.tfg.co.th, as well aswww.set.or.th .
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