Pluk Phak Praw Rak Mae Co, which runs Ohkajhu organic restaurants, is preparing to sell 159 million shares to raise funds worth 1.06 billion baht under its initial public offering (IPO) scheme to build its food and beverage businesses.
The company set Sept 2-25 for investors to book share purchases, priced at 6.7 baht a share, before starting trade on the stock market on Oct 4.
"We are seeking an investment opportunity to expand our business to catch the trend of healthy lifestyles," said Chalakorn Eakchaipatanakul, co-founder and chief executive of Pluk Phak Praw Rak Mae, also known as OKJ.
"We want to develop our farms, factories and machinery to support plans to launch new products for health lovers."
Mr Chalakorn, who is good at marketing, teamed up with friends Jirayuth Puwapoonpol, an organic farming guru, and Woradet Suchaibunsiri, an engineer, to open the first Ohkajhu restaurant in Chiang Mai's San Sai district before expanding the full-service restaurant business to 30 branches in Chiang Mai, Bangkok and neighbouring provinces, Chon Buri and Rayong, according to media reports.
The Eakchaipatanakul family holds the majority of shares in the company amounting to 46.6%, followed by Mr Jirayuth (22.4%), Modulus Venture (20%) and the Suchaibunsiri (11.2%).
Modulus Venture is a subsidiary of PTT Oil and Retail, which acquired shares worth more than 400 million baht in OKJ in 2021.
Mr Chalakorn said the company plans to increase the number of Ohkajhu branches to 67 by 2028.
He said shops under its two new brands -- Ohkajhu Wrap and Roll and Oh! Juice -- are also expected to increase.
By 2028, Ohkajhu Wrap and Roll, which sells takeaway food such as salad and sandwiches, is projected to increase to 20 branches, up from one shop at present, said Mr Chalakorn.
Oh! Juice, which sells organic vegetable and fruit beverages, is estimated to increase to 70 branches from six in the same time frame.
Vegetables sold at Ohkajhu restaurants and shops are supplied from 380 rai of organic farms, with annual production capacity of 850,000 kilogrammes, said Mr Jirayuth.
From January to June this year, OKJ reported revenue growth of 42.8% year-on-year to 1.11 billion baht, with profit tallying 102 million baht, a gain of 38.5%.