Pet food maker i-Tail to raise B21.1bn, pricing IPO at top of band

Pet food maker i-Tail to raise B21.1bn, pricing IPO at top of band


Pet food maker I-tail Corp priced shares in its initial public offering at 32 baht each, the top of the marketed range in Thailand’s second-biggest listing this year.

The unit of frozen and seafood products maker Thai Union Group Plc is offering 660 million shares, which were previously marketed at 30 baht to 32 baht each. The IPO is set to raise 21.1 billion baht, the largest in Bangkok since Thai Life Insurance Plc’s debut in July. 

The offering gives a boost to the country’s IPO market in the final weeks of the year as improving sentiment toward local equities and the participation of local investors helped support Thai issuers this year. 

About 1323 billion baht in IPO proceeds has been raised in the kingdom so far in 2022, including i-Tail’s offering. That’s a 7.1% retreat versus the same period of last year, and compares with a slump of more than 70% in Hong Kong. 

The company’s line of products include mini-pouch tuna flakes and vitamin drinks for cats and dogs, according to its website. I-tail aims to use part of the proceeds for business expansion and debt repayment. 

The shares are slated to start trading in Bangkok on Dec 9.   

Do you like the content of this article?

'So scared': Fear of aftershocks in debris-strewn Turkey

DIYARBAKIR, Turkey: Tulin Akkaya had just started to gather her thoughts after being woken by the biggest earthquake to strike Turkey in nearly a century when a second massive jolt sent her scrambling for safety on the street.


TikTok tale twist

A Chinese tourist's TikTok video shows a Phuket travel agent's knife attack, but the female agent says it was self-defence.


110 immigration officers tied to illegal visas for Chinese gangsters

About 110 immigration officers are suspected of involvement in the illegal issuing of visas for Chinese investors in so-called grey businesses, Immigration Bureau commissioner Pol Lt Gen Pakphumpipat Sajjaphan said on Monday.