Thailand's MK Restaurants to raise second-biggest IPO in the country
MK Restaurants Group planned to raise an initial public offering that would be Thailand's second-biggest IPO offering this year. The planned IPO aimed to raise up to THB9.1 billion.
According to two anonymous sources who are familiar with the matter, 185.9 million shares are up for grabs to local investors. These shares will be priced at THB45 to THB49 each. In addition, the company has employed the help of Asia Plus Securities Pcl, Phatra Securities Co., and Bualuang Securities Pcl in its share sales.
The proceeds from the IPO will be used to fund several new buildings, according to a filing dated June 12. This included a corporate headquarters and a food-processing plant. The company will also be using the funds to add new outlets to its 460 existing outlets in Thailand. However, the company's CEO, Rit Thirakomen, was not available to confirm these reports.
Share sales were previously postponed by Thai companies due to the poor condition of global equity markets. Now, share sales were seeing a revival from companies such as CK Power Ltd. and BTS Group Holdings Pcl. The BTS Group held an IPO of its infrastructure fund last April. According to Bloomberg, the IPO raised THB62.5 billion, Thailand's largest so far.