KCG Corporation Plc (KCG), Thailand's leading manufacturer of biscuits and dairy products, has filed a listing proposal with the Securities and Exchange Commission (SEC), aiming to mobilise funds for its capacity expansion.
The company plans to offer up to 170 million shares in an initial public offering. Bualuang Securities Plc (BLS) has been appointed financial advisor for the listing, in which 30.4% of the company's paid-up capital of 390 million baht would be offered to the public.
Tong Dhiranusornkit, KCG chairman of the executive committee, said its business was driven to serve the changing lifestyles of consumers both in domestic and international markets.
KCG distributes its products to consumers, varying from retail customers to restaurant owners, through different sales channels including retailers and online platforms, he said.
BLS president Pichet Sithi-Amnuai said KCG plans to raise funds to expand its current production capacity and ramp up efficiency in cargo and distribution centres.
"The company will use the remaining proceeds to clear up debts and reserve them as working capital," said Mr Pichet.
Aside from manufacturing dairy products under the trade names of Imperial and Allowrie, KCG is also an importer of equipment for bakery making.
The firm distributes beverage and ingredients such as seafood and olive oil under one of its product categories.
In the first nine months of 2022, the food manufacturer posted sales revenue of 4.22 billion baht, growing from 3.61 billion baht in the same period of last year.
According to data from Euromonitor International, a London-based market research company, KCG ranks top in terms of market share among butter and cheese product manufacturers in Thailand. In biscuits and bakery ingredients, the company listed among the top five last year.
"Our goal is to become a leading importer of world-class cheese and instant foods, including a major manufacturer of consumer goods in Thailand," Mr Tong said.