SET Senior Executive Vice President Manpong Senanarong said that BTG would list and start trading on SET in the Agro & Food industry group, marking the industry's largest IPO in the Thai capital market and Southeast Asia this year.
BTG is a fully integrated agribusiness and food business covering the entire value chain from upstream to downstream, namely the production and distribution of animal feeds, animal medicine, commercial farming, processing of pork, chicken, egg and fish products, processed food products, ready-to-cook and ready-to-eat food products, and pet foods. All these are distributed domestically and internationally in more than 20 countries around the world. Currently, BTG's well-known brands of meat products, processed foods and sausages include S-Pure, Betagro, ITOHAM, and those of the pet food products are Perfecta, DOG n Joy and CAT n Joy.
BTG has a registered paid-up capital of THB 9.67 billion. It allotted 500 million newly issued shares to the general public, with a par value of THB 5 each, consisting of 434.8 million newly issued shares and 65.2 million over-allotment shares, during October 10 - 17 at THB 40 each, for a total of THB 20 billion. The IPO price was equivalent to the price-to-earnings ratio (P/E ratio) of 21.9 times, which was calculated from the company's performance in the past 12 months, divided by fully diluted shares based on the assumption that the rights to buy all the over-allotment shares have been exercised. Kiatnakin Phatra Securities pcl and Bualuang Securities pcl are its financial advisors and lead underwriters.
BTG Chief Executive Officer & President Vasit Taepaisitphongse said that listing on SET marks BTG's important milestone to become a leading global food company. BTG's capital strength with over 55 years of experience in the business and strong business fundamentals will enhance the company's growth potential and competitiveness continuously and sustainably at home and abroad. The proceeds from the fundraising will be used to fund business expansion throughout the value chain locally and internationally including capacity expansion and production process efficiency improvement, to repay the loans to financial institutions, and as working capital.
The company's dividend policy is to pay no less than 30 percent of net profit from the company's separate financial statement after corporate tax and all types of various legal reserves as specified by law. However, such dividend payment is subject to change based on the economic condition, the company's operating results, financial position, cash flow, investment plan, and other necessities and suitability as the Board of Directors deemed appropriate.
After the IPO, the company's major shareholders are Betagro Holding Co., Ltd. (36.18 percent), TAE HK Investment Limited (20.67 percent), and Taepaisitphongse family group (15 percent), of the paid-up capital.
Investors and interested parties please see more details from the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.betagro.com as well as www.set.or.th.
Source: SET Corporate Communications