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Thai bourse to list Bangkok Ranch on July 15

BANGKOK, July 14, 2015 -The Stock Exchange of Thailand (SET) will list Bangkok Ranch pcl, one of Thailand’s top fully integrated duck meat producers, on July 15, under the ticker symbol "BR". The company has a market capitalization at its initial public offering (IPO) of THB 8.04 billion (approximately USD 237 million).
 
SET Executive Vice President Santi Kiranand said that this was the first new listing on SET this year in the Agro & Food industry, Food & Beverage sector. BR, an integrated duck meat producer based in both Thailand and the Netherlands, was one of the major industrial duck meat producers in Thailand and exported to 20 countries worldwide. Its five main businesses operations covered feed, parent stock farm, hatchery, duck meat farm and slaughterhouse-meat processing for ready-to-cook and ready-to-eat products. Currently, food exports industry growth was promising, supported by the government campaign promoting Thailand:  Kitchen to the World.

BR has a paid-up registered capital of THB 4.57 billion, consisting of 685.45 million existing common shares and 228 million newly issued shares, with a par value of THB 5 each. It offered 132.4 million existing common shares and 228 million newly issued shares to the general public via IPO during July 3-8 at THB 8.8 each. BR’s total of fundraising value was THB 2,006.40 million. The Siam Commercial Bank pcl was the financial advisor, while SCB Securities Co., Ltd. and Bualuang Securities pcl were its lead underwriters.

BR Chief Executive Officer Joseph Suchaovanich said that this listing would strengthen the company's financial position and the fund raised would be for business expansion in slaughterhouse, meat processing and meat farm business, including machinery investment and debt repayment, ultimately aiming to achieve sustainable growth.

BR's three major shareholders after IPO are BR’s executives and founders (27.30 percent) Black River Capital Partners Food Fund Holdings (Singapore) Pte. Ltd. (9.67 percent) and Bangkok Bank pcl (6.48 percent). The IPO price was set up from book building process ranging between THB 8.4-9.0 per share with a price-to-earnings ratio (P/E) of 12.39 times, calculated by using the net profit in the past four quarters (April 1, 2014–March 31, 2015), divided by the number of fully-diluted shares, representing earnings per share of THB 0.71. BR's dividend payment policy is 50 percent of net profit after taxes and reserves.

For more information on BR, 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.bangkokranch.co.th , as well as www.set.or.th .



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AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

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