mai to list holding company Mudman on April 11

Stocks and Financial Services Press Releases Monday April 10, 2017 13:50
Bangkok--10 Apr--SET

Market for Alternative Investment (mai) will list Mudman pcl, a holding company investing in global retail food and lifestyle brands such as Dunkin' Donuts, Au Bon Pain, Baskin Robbins and Greyhound, on April 11, under the ticker symbol "MM". The company has a market capitalization at its initial public offering (IPO) of THB 5.54 billion (approximately USD 158.24 million).

SET Senior Executive Vice President Santi Kiranand said that MM would list and start trading on mai in the Agro & Food industry group. MM is a subsidiary of Sub Sri Thai pcl (SST). The group envisioned opportunity to grow further in food and beverage business. Therefore this listing was aimed to strengthen its financial capability, enhance competitiveness in long-term business expansion, and create value for SST group.

MM is a holding company with five subsidiaries, having Golden Donuts (Thailand) Co., Ltd. as its core company. The company runs three franchised global brands namely Dunkin' Donuts having 307 branches, Au Bon Pain having 72 branches and Baskin Robbins having 34 branches, as well as its own brands which are Greyhound Cafe with 28 branches and one branch of M-Kitchen. Besides, the company also operates 14 lifestyle stores under Greyhound brand.

MM has a paid-up registered capital of THB 1.05 billion, consisting of 843.92 million existing common shares and 210.98 million newly issued shares with a par value of THB 1.00. During March 29-31, it offered not more than 41.44 million newly issued shares as pre-emptive rights to SST's existing shareholders and 169.54 million newly issued shares to the general public via IPO, during April 3-5, at THB 5.25 each, for a total of THB 1.11 billion. The Siam Commercial Bank pcl. is the financial advisor, while Maybank Kim Eng Securities (Thailand) pcl is the underwriter.

MM Chief Executive Officer Nadim Xavier Salhani said that this listing would enhance MM'scapital stability. The fund raised would be used for business expansion and debt repayment.

MM's three major shareholders after the IPO are Sub Sri Thai pcl (64.27 percent), Khon Kaen Sugar Industry Plc (7.46 percent) and Chinthammit Family (3.75 percent). The IPO price at THB 5.25 per share was set by a book building process. MM's dividend policy is to pay no less than 50 percent of net profit, from the company's separate financial statement, after deduction of tax expenses and legal reserve (if any).

For more information on MM, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visitwww.mudman.co.th, as well as www.set.or.th.


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