Trading debut/ Ohkajhu

Editorial staff

Phuk Phak Praw Rak Mae Plc, an organic food and beverage operator under the Ohkajhu brand, will start trading on SET tomorrow (October 4), under the symbol "OKJ".

SET executive vice president Amnouy Jiramahapoka said that OKJ will start trading on SET in the agro & food industry group, food & beverage sector.

The company is a service provider of food, beverages, and healthy products under the concept "Be Organic from Farm to Table," as well as other food and beverage services. OKJ focuses on organic vegetable farming and offers food and beverages made from high-quality organic primary ingredients.

The company’s core business is food services and sales under the “Ohkajhu” brand, with distribution channels including full-service restaurants, healthy food sales through delivery and kiosks, sales of snacks and healthy food through Café Amazon, and sales of vegetable products, fruits, and ready-to-eat salads in supermarkets. Additionally, the company operates a fast food business under the "Ohkajhu Wrap & Roll" brand and a healthy fruit and vegetable juice bar business under the "Oh! Juice” brand.

OKJ’s paid-up capital after the IPO stands at 304.50 million baht, with a par value of 0.50 baht per share. The company floated 159 million newly issued shares through the IPO during September 23-25, 2024, at the offering price of 6.70 baht each, raising 1.07 billion baht in fresh funds.

The IPO price represents a price-to-earnings (P/E) ratio of 24.13 times. The earnings per share is 0.28 baht, which was calculated from the company’s net profit over the past 12 months at 169.08 million baht, divided by 609 million fully diluted shares. Bualuang Securities Plc acted as financial advisor and lead underwriter.

Chalakon Eakchaipatanakul

OKJ founder and chief executive officer Chalakon Eakchaipatanakul said the company is committed to growing as the 'King of Organic Salad' in Thailand, under the vision: "We are dedicated to walking an organic path that is good for ourselves and society." This is achieved through delivering organic vegetables from farms, selecting chemical-free ingredients, and presenting them through healthy dining experiences for everyone.

This fundraising and listing on SET mark a significant milestone in strengthening the company's financial position and enhancing its competitive edge to support sustainable business growth opportunities in the future.

OKJ’s major shareholders after the IPO are the founder group (59.1%) consisting of 1) the Eakchaipatanakul family (34.3 %); Jirayuth Puwapoonpol (16.6 %); and the Suchaibunsiri family (8.3 %) and Modulus Venture Co., a subsidiary of PTT Oil and Retail Business Plc (OR), (14.8%). On the first trading day of OKJ, Modulus Venture will buy 31.8 million shares, representing a 5.2 % stake from the three founders - Chalakon Eakchaipatanakul, Jirayuth Puwapoonpol and Woradet Suchaibunsiri through big lot transactions. OR group’s shareholding will increase to 20 %, while the founder group’s will be reduced to 53.9 % after this transaction.

OKJ’s dividend policy is to pay shareholders not less than 40 percent of its separate financial statements after corporate income tax and reserves required by laws and the Articles of Association. The dividend payment may be less than the aforementioned rate, subject to other factors and appropriateness.