<article>Duck meat manufacturer Bangkok Rance Plc (RANCE), filed with Thai regulators for an initial public offering of common stock.</article>

Duck meat manufacturer Bangkok Rance Plc (RANCE), filed with Thai regulators for an initial public offering of common stock.
The fund raising will be used to expand the business and repay the debt, according to the Securities and Exchange Commission (SEC) statement.
RANCE plans to issue 288,482,186 shares, of which 60,000,000 are the existing common shares offered by United Overseas Bank Limited’s private fund.
It has appointed Siam Commercial Bank (SCB) to be financial advisor and IPO underwriter.
RANCE has a registered capital of 3.51 billion baht and paid-up capital of 3.43 billion baht, turned into 342,723,279 shares at the price of 10 baht each. The major shareholder is BR Partners Limited, currently holding 37% of total shares and decreasing to 25.6% after IPO.
In the first nine months, RANCE recorded total revenue of 6.35 billion baht ($193.59 million) with a net profit of 530.9 million baht ($16.18 million). It has total asset of 6.39 billion baht ($194.8 million) and total debt of 4.34 billion baht ($132.31 million). The dividend will be paid by 50% of the net profit.
After its listing, the company plans to expand its slaughtering plant, processing duck meat plant, and duck farms. Some part of the fund will be spent on debt repayment.
In January last year, as the company’s financial advisor, SCB has mobilized funds and bought RANCE back from Navis Capital Partners (Thailand) and Rabo Capital B.V. with total value of 5.7 billion baht ($173.78 million).
<pre>Image:<a href=" http://www.freedigitalphotos.net/images/Meat_g88-Side_Of_Duck_Stewed_In_The_Chinese_Gravy_On_White_Background_p115540.html ">Freedigitalpictures.net</a></pre>

Thai duck meat co Rance files for IPO

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Thai duck meat co Rance files for IPO

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