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NEWS UPDATES Asean Affairs   14 August 2013  

Thai bourse welcomes MK Restaurant Group pcl. (M)

BANGKOK, August 13, 2013 – The Stock Exchange of Thailand (SET) welcomes MK restaurant group pcl to its main board, listing in the Food and Beverage Sector and starting trading on August 15 under the ticker symbol "M," with a market capitalization of THB 44.39 billion (approx. USD 1.43 billion).

SET Executive Vice President Chanitr Charnchainarong said that M has operated a sukiyaki and food restaurant chain under the “MK” brand for 27 years, with a current total of 460 domestic branches, consisting of 359 branches of MK Suki, 95 branches of its Japanese restaurants Yayoi, and other restaurants: namely Hakata, Tenjin, Thai Le Siam, Na Siam, and Le Per Tit. M also operates 44 branches in Japan, Singapore, and Vietnam.

M has a paid-up registered capital of THB 905.85 million, consisting of 720 million existing shares and 185.85 million newly-issued ones, with a par value of THB 1.00 each. M offered its new share issue via an IPO on August 5-7 at THB 49 per share, for a total of THB 9.1 billion. Asia Plus Securities pcl is its financial advisor, while underwriters are Asia Plus, Bualuang Securities pcl, and Phatra Securities pcl.

Rit Thirakomen, Chairman and CEO of MK, said; "We are honored and very pleased that the company is listing on the stock exchange, which is a crucial step to boost our image, reputation, financial strength, and business potential. Fundraising proceeds will be used for constructing a new central kitchen on Bangna Road, Bangkok. This building, expected to be completed in November, will enable doubling of our branches. Funds will also be used to repay debt related to our new office building, expand branches, and be held as reserves for expansion.   

M's three major shareholders after the IPO are Mrs. Yupin and Mr. Rit Thirakomen (37.4%), Mr. Somchai Hanjitkasem (18.1%) and Mr. Somnuk Hanjitkasem (18.1%). The IPO price was set at THB 49 per share, with a price to earnings ratio of 22.2 times, calculated using 2012 net profit divided by 925.85 million shares issued after IPOs (including warrant exercises allocated to company’s executives and employees) which equals to 2.2 baht, compared with the P/E ratio of the industry which was at 34 times (between June 27 and July 28, 2013). Its dividend policy is to pay no less than 50 percent of net profits after reserves.

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This year in Thailand-what next?

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.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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