K&K Superstore Southern pcl, a retailer and wholesaler from the southern part of Thailand, will be listed on Market for Alternative Investment (mai) on October 7, under the ticker symbol ?KK?. The company has a market capitalization at its initial public offering (IPO) of THB 202.4 million (approx. USD 6.36 million) as well as 10.35 million over-allotment shares at IPO price.
mai President Prapan Charoenprawatt said that KK would list and start trading on mai in Services industry group. KK operates retail and wholesale consumer product business under the name ?K&K Superstore? with 28 branches across three southern provinces: Songkhla, Phattalung and Satun, and a distribution center in Songkhla?s Hat Yai district. The company has embraced business concept of ?One Stop and Everyday Competitive Price at K&K Superstore Near Your Home?, having more than 8,000 consumer goods items available.
KK has a paid-up registered capital of THB 115 million, consisting of 161 million existing common shares and 69 million newly issued shares, with a par value of THB 0.50 each. It offered the newly issued shares to general public at THB 0.88 each, for a total of THB 60.7 million, during September 29 - October 1, 2020. Moreover, an over-allotment of 10.35 million shares was allocated to investors at the same price as the IPO. KK?s IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 20.03 times, calculated by using the company's net profit in the past 12 months (July 1, 2019 ? June 30, 2020) of THB 10.11 million, divided by fully diluted shares, representing earnings per share of THB 0.04. KTB Securities (Thailand) pcl is its financial advisor and lead underwriter.
KK Managing Director Kawispong Sirithananonsakul said KK has prosperously grown together with Songkhla residents for over 27 years. With thorough understanding of local lifestyle as the strength of the company, K&K Superstore is a good combination of modern-traditional trade that can blend modern trade well with local contemporary style. The company has focused on strategic branch locations and efficient inventory management across its 28 branches in the three provinces. The fund raised will be used for branch expansion, debt repayment and as working capital.
KK's major shareholder after IPO is Sirithananonsakul family (65.72 percent). The company's dividend policy is to pay no less than 40 percent of net profit after corporate income tax and legal reserves.
For more information on KK, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.kandksuper.com as well as www.set.or.th.