The Stock Exchange of Thailand will list KCG Corporation, a manufacturer and distributor of processed dairy products such as butter and cheese as well as food and bakery ingredients, concentrated fruit juice, cookies, crackers, and wafers, on August 3 under the ticker symbol "KCG". The company has a market capitalization at its initial public offering (IPO) of THB 4.63 billion (approx. USD 134.59 million)
SET Senior Executive Vice President Manpong Senanarong said that KCG will be listed and start trading on SET in the Agro & Food Industry industry group, Food & Beverage sector.
KCG manufactures and distributes a wide range of food products including processed dairy products such as butter and cheese under very famous brands including "Allowrie". Today the company owns the trademark in Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, the Philippines, and Vietnam. The company also manufactures and distributes food and bakery ingredients, concentrated fruit juice, cookies, crackers and wafers under popular brands like "Imperial", "DAIRYGOLD", "bake master", "SUNQUICK", "Cookie choice", "Rosy", and "Violet". In addition, the company distributes imported products of "Arla" and "Emmi" brands. Its products are distributed through various sales channels - business to customer (B2C), business to business (B2B), and exports.
KCG has a paid-up capital of THB 545 million consisting of 390 million existing common shares and 155 million newly issued shares, with a par value of THB 1 each. It offered newly issued shares to the general public on July 20, 21, and 24, 2023, at THB 8.50 each for a total THB 1.32 billion in fund raised. The IPO price is equivalent to the price-to-earnings ratio (P/E ratio) of 17.33 times calculated from the company's net profit in the past 12 months divided by fully diluted shares. Bualuang Securities pcl is the financial adviser and lead underwriter.
KCG Chairman Tong Dhiranusornkit said KCG has adhered to corporate governance for 64 years. The fundraising and listing on SET will enhance KCG's capability to develop new products and innovations, increase production capacity and upgrade the KCG Logistics Park which is a state-of-the-art and end-to-end frozen, and ambient storage facility to support local and overseas business expansion which will lead to the company's sustainable growth to become a leader in manufacturing and importing the leading brands of butter, cheese, and ready-to-eat food products globally.
KCG's dividend policy is to pay at least 40 percent of net profit from its separate financial statements after corporate income tax and all reserves required by laws and its regulations set yearly. The dividend payment of the company is also subject mainly to shareholders' interest, economic circumstance, its operating performances, financial status, cash flows, reserves for future investment, loan repayment, working capital, and loan covenants.
KCG's major shareholders after the IPO are Kim Chua Group Co., Ltd. and founders (71.56 percent in total).
For more information on KCG, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.kcgcorporation.com and www.set.or.th.