SET Executive Vice President Santi Kiranand said TKN would list and start trading on SET's Agro & Food industry group, Food & Beverage sector on December 3. The company was a manufacturer and distributor of seasoned seaweed, under the brand "Taokaenoi," selling four main products which are fried, roasted, tempura and baked seaweeds including popcorn snack named "Taokaepop." Those products have been sold through various channels including its exclusive snack shop named "Taokaenoi Land," as well as exporting to 35 countries worldwide.
TKN has a paid-up registered capital of THB 345 million, consisting of 1,020 million existing common shares and 360 million newly-issued shares with a par value of THB 0.25 each. It offered the newly-issued shares to the general public via IPO during November 25-27 at THB 4.00 each, for a total of THB 1.44 billion. Asia Plus Advisory Co., Ltd. is its financial advisor, while Asia Plus Securities pcl is its underwriter.
TKN's CEO Itthipat Peeradechapan said this listing would help the company to increase its competitiveness as the fund raised would be used to invest in new factory at Rojana Industrial Park, for working capital, and to renovate the existing factory.
TKN's three major shareholders after the IPO are Peeradechapan Group (73.91 percent), Pitchsinee Seriwiwattana (1.20 percent) and Kaewsawang Group (0.96 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 16.42 times calculated by using the company's net profit in the past four quarters (October 1, 2014-September 30, 2015), divided by fully diluted shares, representing earnings per share of THB 0.24. TKN's dividend policy is to pay no less than 40 percent of net profits (from the separate financial statement) after taxes and reserves.
For more information on TKN, 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.taokaenoi.co.th, as well aswww.set.or.th.