Market for Alternative Investment (mai) will list Miss Grand International pcl - the organizer of the "Miss Grand Thailand" and "Miss Grand International" pageants, artist management agency and product distributor - on December 14 under the ticker symbol "MGI". The company has a market capitalization at its initial public offering (IPO) of THB 1.04 billion (approx. USD 29.80 million).
mai President Prapan Charoenprawatt said that MGI will be listed and start trading on mai in the Consumer Products industry group.
MGI organizes the "Miss Grand Thailand" and "Miss Grand International" pageants to complement commerce business, which is its core business. The company distributes consumer goods including facial and body care products, clothes, ornaments, foods and dietary supplements under its own brands namely "Miss Grand", "NangNgam", and "MGI", and under other brand products with the ratio of 75 : 25 of its revenue from commerce business. Moreover, MGI is engaged in media and entertainment, and artist management businesses. In the first nine months of 2023, commerce business contributed to 41 percent of the company's total revenue, Miss Grand beauty pageants at 13 percent, media and entertainment business at 19 percent, artist management at 23 percent, and other businesses at 4 percent.
After the IPO, MGI has a paid-up capital of THB 105 million, consisting of 150 million existing common shares and 60 million newly issued shares, with a par value of THB 0.50 each. The company offered 45 million newly issued shares to persons at underwriters' discretion and institutional investors, 9 million shares to its patrons, and 6 million shares to its directors, executives and employees between December 4, 6 and 7, 2023, at THB 4.95 each for a total of THB 297 million in fund raised. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 11.76 times. The earning per share is equal to THB 0.42, which was calculated from the company's net profit of THB 88.40 million in the past 12 months (from October 1, 2022, to September 30, 2023), divided by fully diluted shares. Finnex Advisory Co., Ltd. is the financial advisor and ASL Securities Co., Ltd. is the lead underwriter.
MGI Chief Executive Officer Nawat Itsaragrisil said that for over 10 years, the company has been determined to uplift local and international beauty pageant industry to be the most popular platform, attract followers and encourage engagement via the company's own brand products and services. This is in line with MGI slogan "We Are Grand the 1 And Only". The proceeds arising from the fundraising will be used for office building renovation, product development, online program production and information technology development and also kept as working capital.
MGI's major shareholders after the IPO are Nawat Itsaragrisil (42.86 percent) and Ratchaphol Chantaratim (28.56 percent). The company's dividend policy is to pay at least 40 percent of net profit after tax and legal reserves.
For more information on MGI, 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.missgrand.com and www.set.or.th.