August 1, 2024
Food Moments listed on Thailand's stock exchange
The Stock Exchange of Thailand (SET) on July 25 listed Food Moments (FM) pcl, a holding company with investments in manufacturers and distributors of butchered and processed cooked chicken parts.
The company has a market capitalisation at its initial public offering (IPO) of ฿5.33 billion (US$148.30 million).
SET executive vice president Amnouy Jiramahapoka said that FM will list and start trading on SET in the Agro & Food industry group, Food & Beverage sector.
FM subsidiaries focus on fully processed cooked chicken products. The company's subsidiary business structure covers the entire process from overseeing quality chicken farming through contract farming networks to slaughtering and processing chickens for fresh, chilled, and frozen chicken parts for both domestic and international markets.
FM uses fresh chicken as raw material for producing cooked value-added products using advanced technology through collaboration with customers on product development. It also has a research and development team and a lab kitchen.
Currently, FM's customer base comprises both domestic and international operators in the European Union, the United Kingdom, Japan, Canada, Hong Kong (China), South Korea, Cambodia, China, and Singapore.
FM chief executive officer Nutthapol Dussadeenoad said that raising capital and listing on SET mark a significant step that strengthens the company's financial position to expand production capacity for future growth. It also provides an opportunity for investors and the general public to be part of the company's success.
FM's strong financial position, combined with its management team's 30 years of experience and expertise in the chicken processing and distribution industry, is expected to help the company foster continuous and sustainable growth.
FM's major shareholders after its IPO include the Dussadeenoad Family group (51.84%) and North Haven Thai Private Equity Dominic Company (Hong Kong) Limited (10%).
- newswit