ThaiFoods Group to offer 1400m shares in Sept IPO

Visual from the company website

ThaiFoods Group Plc (TFG), a company based in Thailand that operates in the sector of integrated poultry business involving hatcheries, contract farming, raw chicken meat processing for export and domestic distribution – will sell 1,400 million shared  during its initial public offering (IPO) in the SET market in September 2015. This was revealed by the Komkrit Meekamsat, executive vice president of KT Zmico Securities.

The suggested IPO price is at middle of the rank 2.10-2.30, following the book-building. Of the 1,400 million IPO shares on offer, 40 per cent will be allocated to the institutional investor, while the retail investor will be offered the balance 60 per cent.

“The company (KT.Zmico) will makes a decision in next week to set up the IPO prices“, he added.

According to eFinence ThaiTFG expects the IPO to raise 1 billion baht from the 1,400 million shares. Most of the proceeds raised from the IPO will be used to pay off the bank debt.

“It will decrease the debt to equity ratio (D/E) to 1 time from 2.1 times,” said Meekamsat.

Win Thanittiraporn, the director and managing director of Thai Foods Group Plc said that the company plans to expand its capacity for exports of chicken and pork. At present, the company’s revenue share from exports is barely 1 per cent while the domestic market provides 99 per cent of sales.

“This year, TFG has not registered any profit because due to poor global and domestic demand. The slowdown has effected business. Next year the company hope the economy will recover,” he added.

Also Read: Thaifoods Group plans year-end IPO

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.