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.
For more information on JDF, please see the company’s prospectus at the Securities and Exchange Commission’s website at www.sec.or.th.