Market for Alternative Investment (mai) will list
After You pcl, a dessert businesses, on December 23 under the ticker symbol
"AU." The company has a market capitalization at its initial public offering
(IPO) of THB 3.26 billion (approximately USD 93 million).
mai President Prapan Charoenprawatt said that AU would list and start trading on
mai in the Agro & Food industry group. AU operates 18 dessert caf? branches
under the brand "After You" and two shaved ice dessert branches under the brand
"Maygori." The firm also provides catering service and original equipment
manufacturer (OEM) for clients in airline and restaurants, among others.
AU has a paid-up registered capital of THB 72.50 million, consisting of 560
million existing common shares and 165 million newly issued shares with a par
value of THB 0.10, of which 163 million shares were offered to the general
public and the board of directors at THB 4.50 (161.5 million shares were
allocated to the public and 1.5 million shares were allocated to the board of
directors), while 1.57 million shares at THB 0.10 and 0.43 million shares at THB
2.25 were offered to AU's executives and employees (employee stock ownership
plan: ESOP) during December 14-16, 2016, for a total of THB 734.62 million.
Bualuang Securities pcl is the financial advisor and lead underwriter.
AU Managing Director Maetup T. Suwan said that AU has continuously come up with
new products to differentiate with competitors' products, making it more
attractive to the market. While using the high quality ingredients and raw
materials, the company also focused on excellent service. This listing would
strengthen AU's financial capabilities for future opportunity. The fund raised
would be used for business expansions, debt repayment, and working capital to
fulfill the company's goals.
AU's three major shareholders after the IPO are Gulapat Kanokwatanawan Group
(42.48 percent), Maetup T. Suwan Group (34.76 percent) and Areecharoenlert Group
(3.98 percent). On the first trading day, the existing shareholders might sell
not exceeding the combined THB 52.5 million existing common shares, or 7.2
percent of the issued and paid-up shares to no more than 50 investors at the IPO
price on the big-lot board.
The IPO price was set by a book building process, equivalent to the
price-to-earnings ratio (P/E ratio) of 34.6 times. AU's P/E ratio was calculated
by using the company's net profit in the past 12 months (October 2015 -
September 2016) of THB 95.3 million, divided by fully diluted shares,
representing earnings per share of THB 0.13. AU's dividend policy is to pay no
less than 50 percent of net profits after taxes and reserves.
For more information on AU, 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 at www.afteryoudessertcafe.com, as well as
SET "The 5th Decade of Sustainable Wealth for Thais"
Source: The Stock Exchange of Thailand.