Plookphak Phroe Rak Mae Co., Ltd., a business providing and distributing food, beverages and health products under the brand ‘Ohkajhu’, has started trading on the Stock Exchange of Thailand with a market capitalization at the IPO price of 4,080.30 million baht, using the abbreviation ‘OKJ’ for trading securities. The first day of trading opened at 10.10 baht, an increase of 3.40 baht or 50.75% from the IPO price of 6.70 baht.
Mr. Asadej Kongsiri, Director and Managing Director of the Stock Exchange of Thailand, revealed that the Stock Exchange of Thailand welcomes Plookphak Phroe Rak Mae PCL to be listed and start trading on the Stock Exchange of Thailand in the Agriculture and Food Industry Group, Food and Beverage Category, using the abbreviation ‘OKJ’ for securities trading. The first day of trading opened at 10.10 baht, an increase of 3.40 baht or 50.75% from the IPO price of 6.70 baht.
The Company operates a business providing and distributing food, beverages and health products under the concept of ‘
Be Organic from Farm to Table’, including other food and beverage services, focusing on organic vegetable farming and offering food and beverages from quality organic ingredients. The Company’s main business is the food service and distribution business under the brand name ‘Ohkajhu’, which has distribution channels including full-service restaurants, health food distribution via Delivery and Kiosk, snack and health food distribution via Café Amazon, and ready-to-eat vegetable, fruit and salad products in supermarkets. In addition, the Company also has a fast food business under the brand name ‘Ohkajhu Wrap and Roll’ and a healthy fruit and vegetable juice business under the brand name ‘Oh! Juice’.
OKJ has a paid-up capital after the IPO of 304.50 million baht, with a par value of 0.50 baht per share. The company offered a total of 159 million IPO shares, and offered its first ordinary shares to the general public during September 23-25, 2024 at a price of 6.70 baht per share, totaling 1,065.30 million bah
t in capital raising, and a market capitalization of 4,080.30 million baht at the IPO price. The IPO offering price is equivalent to a price-to-earnings ratio (P/E ratio) of 24.13 times, based on the net profit in the past 12 months of 169.08 million baht, divided by the number of ordinary shares after the offering of 609 million shares, resulting in a net profit per share (Fully Diluted EPS) of 0.28 baht, with Bualuang Securities Public Company Limited as the financial advisor and underwriter of the ordinary share distribution.
Mr. Chalakorn Ekachaipatanakul, Founder and Chief Executive Officer of Plook Pak Phro Rak Mae Co., Ltd. (OKJ), revealed that the company is committed to growing as the ‘King of Organic Salad’ in Thailand under the vision of ‘We are committed to walking the organic path that is good for ourselves and society’ by delivering organic vegetables from farms, selecting ingredients free of chemicals, and presenting them through healthy meal experiences for everyone. This fundraising and list
ing on the Stock Exchange of Thailand is an important step that will help strengthen the company’s capital and increase its competitiveness to support sustainable business growth opportunities in the future.
OKJ’s major shareholders after the IPO are the founders: 1) Ekachaipatanakul family with 34.3 percent; 2) Jirayut Phuwapoonphol with 16.6 percent; 3) Suchaibunsiri family with 8.3 percent, totaling 59.1 percent; and Modulus Venture Co., Ltd., a subsidiary of PTT Oil and Retail Business Public Company Limited (OR), with 14.8 percent. On the first day that OKJ shares start trading on the Stock Exchange, Modulus Venture Co., Ltd. will purchase shares from the three founders, namely Mr. Chalakorn Ekachaipatanakul, Mr. Jirayut Phuwapoonphol, and Mr. Worawut Suchaibunsiri, on the Big Lot Board, totaling 31.8 million shares or 5.2 percent, in order for the OR group to maintain its shareholding at 20 percent after the IPO. After the IPO and the trading of Big Lot shares, the founders will hold 53.9 percent of th
e shares.
OKJ has a policy to pay dividends to shareholders not less than 40 percent of the company’s net profit from its separate financial statements after deducting corporate income tax and allocating all types of reserves as specified in the company’s laws and regulations. The dividend payment may be less than the above rate, taking into account other factors and appropriateness
Source: Thai News Agency
