“Platinum Fruit” files for IPO sale of 200 million shares to SET
Platinum Fruit or PTF files for IPO of 200 million shares to enter SET, raising funds to expand into export market, reveals 9-month revenue exceeding 5.7 billion, ready to expand longan export market to India
Mr. Teerasak Thaveepiyaporn, Managing Director of Investment Banking at UOB Kay Hian (Thailand) (UOBKH), acting as financial advisor, revealed that Platinum Fruit Public Company Limited (PTF), whose main business is exporting premium fresh fruits and vegetables to over 9 countries and SAOs across East Asia, such as durian, longan, mangosteen, and coconut, has successfully filed its registration statement and draft prospectus with the Securities and Exchange Commission (SEC) on December 20, 2567.
The Company plans to offer 200 million shares to the general public for the first time (IPO), representing 25 percent of the Company's total issued and paid-up common shares after this offering.
After the IPO, Platinum Fruit Public Company Limited will have a registered capital of 400 million baht, equivalent to 800 million shares, from the current issued and paid-up capital of 300 million baht, equivalent to 600 million shares, with a par value of 0.5 baht per share.
Mr. Nattakrit Eiamsakul, Chief Executive Officer of Platinum Fruit Public Company Limited, stated that the company operates under the vision of "Growing Together Fruitfully," enabling it to conduct business comprehensively. This includes sourcing high-quality agricultural products from orchards with GAP and Global GAP certifications, as well as a deep understanding of the diverse needs and markets of consumers in various countries. Investment in a one-stop service logistics system has resulted in export markets for fresh fruit across Asia and Europe, including China, Indonesia, India, Taiwan, Hong Kong, New Zealand, and the United Kingdom, among others.
In addition, it also emphasizes the development of knowledge of Thai farmers to increase the quality of fruit to meet the needs of the end market. As a result, the company has fruits for export all year round. It is also aware of its participation in caring for the environment and developing the quality of life of the community so that the Platinum Fruit Group's business can help create growth and coexist with all parties sustainably in the future.
The company currently operates through four subsidiaries:
- Tong Paet Vegetables and Fruits Co., Ltd. (“TFV”) is engaged in the export business of fresh vegetables and fruits to foreign countries.
- Tong Paet Logistics Co., Ltd. (“TPL”) operates land container transportation business both domestically and internationally.
- Sky Shore Trading Co., Ltd. (“SST”) is engaged in the business of providing full-service container handling, import and export customs formalities, ship freight procurement, as well as freight yard and cargo handling services at Laem Chabang Port.
- Sky Shore Depot Co., Ltd. (“SCD”) is engaged in the business of leasing land for use as a container storage yard.
For the overall operation in 2564-2566, there was a total income of 3,613.06 million baht, 5,345.51 million baht, and 5,489.40 million baht, respectively.
For the first nine months of 2024, total revenue reached 5,797.60 million baht, an increase of 1,012.89 million baht or 21.17% from the same period last year, which totaled 4,784.71 million baht. Net profit was 247.61 million baht, an increase of 153.98 million baht compared to the same period last year. This resulted from the implementation of a business plan that increased sales in core markets and continuously expanded the customer base into new countries. Most recently, the company successfully entered the export market for premium grade longan to India.
The Company has a policy to pay dividends at a rate of not less than 40 percent of the Company's net profit from its separate financial statements after deducting corporate income tax and all types of reserves, which is in accordance with the relevant laws, regulations, criteria and regulations.
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