Bangkok, The Stock Exchange of Thailand (SET) will list JD Food
pcl – a manufacturer of food seasonings, sauce & snack filling, dehydrated food
products, coconut chips and instant soup – on April 7, under the ticker symbol
“JDF”. The company has a market capitalization at its initial public offering
(IPO) of THB 1.56 billion (approx. USD 46.84 million).
SET Senior Executive Vice President Manpong Senanarong said that JDF would list
and start trading on SET in the Agro & Food Industry industry group, Food &
Beverage sector.
JDF produces food seasonings, sauce & filling, and dehydrated food products on a
one-stop, made-to-order basis, catering for customers in food manufacturing
industry and restaurant business sector, as cooking ingredients. The company is
an original equipment manufacturer (OEM) of coconut chips for customers in the
food industry group in other countries. In addition, JDF produces and
distributes products under its own brands consisting of seasoning shake powder
and bakery filling under the “OK” brand, curry seasoning and instant Thai food
under the “Kin Dee” brand, coconut chips under the “Crispconut” and “Little
Monkey” brands, as well as instant soup without monosodium glutamate under the
“Good Eats” brand.
JDF has a registered paid-up capital of THB 300 million, consisting of 450
million existing common shares and 150 million newly issued shares, with a par
value of THB 0.50 each. The company offered the newly issued shares to the
general public via IPO during March 29-31 at THB 2.60 each, for a total of THB
390 million. The IPO price is equivalent to price-to-earnings ratio (P/E ratio)
of 25.78 times. Capital One Partners Co., Ltd. is its financial advisor and
Globlex Securities Co., Ltd. is the lead underwriter.
JDF Chief Executive Officer Ratana Eaiprasertsak said that the company has
gained experience and expertise in the food industry for over 30 years, being
behind the deliciousness of over 300 customers in the food business, large
restaurants, and small and medium-sized enterprises (SMEs). The company has a
team of food science research and development (R&D) that enables customers to
develop or adjust recipes to meet their demand and uniqueness. The team has
developed more than 2,000 flavors which can be considered JDF’s competitive
edge. The company is ready to support post-COVID-19 growth potential in the wake
of a new factory that meets international standard to increase production
capacity and step up as a leading recipe developer and food seasoning
manufacturer in the country.
The fundraising and listing of the company will strengthen the financial status
and business expansion capabilities. The fund from the IPO will be used for
international marketing channels expansion, investment in R&D and technological
system for new products in growth stage, loan repayment to financial
institutions, and as working capital.
JDF’s dividend policy is to pay no less than 50 percent of net profit from the
company’s separate financial statement after the deduction of corporate income
tax and other reserves. However, the dividend payment is subject to the
company’s performance, financial status, liquidity, investment and business
expansion plans in the future, market conditions, suitability and other relevant
factors.
JDF’s major shareholders after the IPO are 1) the Hosajakul family and 2) Ratana
herself who are the company’s co-founders. Both own the lion’s share at 75%
shareholding in total.
Source: The Stock Exchange of Thailand
