Thailand based food processor TFG delays 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 be delaying its initial public offering (IPO),  informed Winai Teawsomboonkit, chairman of the executive committee and chief executive officer (CEO) of the company.

The IPO involved the sale and listing of company’s 1400 million shares on Thailand’s SET market  in September 2015

According to issue advisers TFG and KT Zmico Securities, the company decided to delay the listing due to unfavourable domestic and global economic environment; another risk factor was the domestic political unrest  and recent bombings in the country.

“The company has delayed the IPO for indefinite period as there are too many risk factors that can impact our business. But we are confident that both retail and institutional investors will interested in TFG ‘s share when the company decides to list on the SET,” he said.

Earlier, TFG had suggested an IPO price in the middle price range of 2.10-2.30, following the book-building. Of the 1,400 million IPO shares on offer, 40 per cent were to be allocated to the institutional investor, while the retail investor was to be offered the balance 60 per cent.

TFG expected to raise 1 billion baht from the 1,400 million shares.

Also Read: ThaiFoods Group to offer 1400m shares in Sept IPO

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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.