Bangkok--1 Dec--SET
Market for Alternative Investment (mai) will list T.A.C. Consumer pcl, the leading beverage dispenser producer for 7-Eleven convenient store chain, on December 2, under the ticker symbol "TACC". The company has a market capitalization at its initial public offering (IPO) of THB 1.75 billion (approx. USD 48.6 million).
mai President Prapan Charoenprawatt said that TACC would list and start trading on mai in the Agro & Food Industry group. The company's core business was producer of tea, coffee via beverage dispensers, a joint project with CP ALL pcl, for 7-Eleven, as well as selling own brands named "Zenya" ready-to-drink green tea, "Vslim" functional coffee, and instant powder drink mix called "Sha Sha", "Na-Arun" and "Sawasdee" through domestic and overseas distribution channels.
TACC has a paid-up registered capital of THB 152 million, consisting of 440 million existing common shares and 168 million newly issued shares, with a par value of THB 0.25 each. During November 25-27, it offered 9 million newly issued shares to executives, directors and employees, and 159 million shares to the general public via IPO, at THB 2.88 each, for a total of THB 483.84 million. Finansia Syrus Securities pcl was the financial advisor and underwriter.
TACC Chairman of the Executive Committee Chatchawe Vatanasuk said that TAAC has been a key strategic partner with CP All pcl for more than 12 years, continuously conducting marketing research and product development, thus could finally gain number one market share for beverages from dispenser category among other competing brands in 7-eleven stores nationwide. The fund raised would be used to invest in beverage vending machines in 1,500 convenient stores by 2017, as well as for working capital to strengthen and grow its business sustainably.
TACC's three major shareholders after the IPO are Chatchawe Vatanasuk Group (29.44 percent), Thanutum Kiatphaibool (18.01 percent), and Chaiyachet Sivaleepunth Group (6.02 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 23.19 times calculated by using the company's net profit in the past four quarters (October 1, 2014-September 30, 2015) which was THB 75.52 million, divided by fully diluted shares, representing earnings per share of THB 0.12. TACC's dividend policy is to pay no less than 30 percent of net profits (from the separate financial statement) after taxes and reserves.
For more information on TACC, 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 atwww.tacconsumer.com , as well as www.set.or.th.
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