BANGKOK, February 18, 2021 – The Stock Exchange of Thailand (SET) will list Rojukiss International PLC, a leading developer, contract manufacturer, and marketer of skincare, color cosmetic, food supplement products, on February 19 under the ticker symbol “KISS”.
The company has a market capitalization at its initial public offering (IPO) of THB 5.4 billion (approx. USD 179 million).
SET Senior Executive Vice President Manpong Senanarong said that KISS would list and start trading on SET in the Consumer Products industry group, Personal Products & Pharmaceuticals sector.
KISS develops, contract manufactures and markets beauty and healthcare related products in both local and overseas markets as well as providing consultancy services in business operation and marketing activities for its distributors overseas under its proprietary brands.
The company has three product groups carrying five leading brands with more than 200 SKUs:
1) Skincare products: “Rojukiss”, “PhDerma/PhD K-Derma”, “Wonder Herb”, and “Best Korea” brands;
2)Cosmetic products: “Sis2Sis”; and
3) Dietary supplement products: “Rojukiss” brand.
KISS has a registered paid-up capital of THB 300 million at a par value of THB0.50 each. The company offered 152.64 million IPO shares, comprising 60 million newly issued common shares and 92.64 million existing common shares sold by Aurora Asia Holdings Pte. to persons under the underwriters’ discretion,
institutional investors and juristic persons, the company’s patrons, directors, executives and employees at THB 9.00 per share for a total of THB 540 million (excluding offering of existing common shares). Siam Commercial Bank pcl is the financial advisor and SCB Securities Co., Ltd. is the lead underwriter.
How will oil prices shape the Covid-19 recovery in emerging markets?
– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability
A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.
Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.
The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.
Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.
In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.
While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.
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