Look at Ohkaju's business preparing to sell IPO shares to the public for the first time: PPTVHD36

Vegetable farming company Because I Love Mother Public Limited (OKJ) has filed for Ohkaju Restaurant. Preparing to sell IPO shares to the public for the first time, with no more than 159 million shares, increasing competition in the food business.

Growing Vegetables Because We Love Public Limited Company (OKJ) has filed a registration statement and draft invitation letter (filing) with the Securities and Exchange Commission (SEC) in order to offer additional shares to the general public. It will be an IPO of no more than 159 million shares and will be listed on the Stock Exchange of Thailand (SET), with Bualuang Securities as financial advisor.

For the purpose of utilizing funds from fundraising:

1. Expand your business, and this is not limited to expanding Ohkaju store branches. Branch expansion for new companies or brands Branch improvements and expansion of distribution channels

2. Investing in building a new central kitchen. Developing machinery, equipment and various information technologies to increase production efficiency, raw materials and inventory management systems, transportation systems, offices, etc.

3. Investing and developing machinery, equipment and public utility systems to increase the efficiency of agriculture. Including establishing a place to check product quality (internal laboratory), etc.

4. Invest in related businesses to increase competitiveness. and sustainable business expansion including investment in new businesses, joint ventures, and corporate buyouts. Mergers and acquisitions, etc.

5. Repayment of loans from financial institutions.

Learn about PCL. Growing vegetables because I love my mother (OKJ)

Mr. Chalkorn Ekatchaipattanakul (Woo), CEO of OKJ, revealed that the company operates in the food service and distribution business. Beverages and healthy products under the concept of Be Organic Farm to Table, starting a business from inspiration (passion) with Mr. Jerayut Phuaponphon (Joe) and Mr. Woradej Suchibonsiri (Tong), two friends. The founder wanted to create organic products from growing community garden vegetables and some types of salad vegetables to eat with the family under the slogan “Grow vegetables because you love your mother” before expanding into running an organic vegetable farming business. Providing products free of toxic chemicals and chemical residues

OKJ is a food service and distribution company. Healthy beverages and products under the “Go Organic from farm to table” concept including other food and beverage services. The focus is on growing vegetables and fruits using organic farming and serving foods and drinks made from key organic ingredients.

3 main works

1. Food service and distribution business under the “Ohkaju” brand, selling various types of healthy foods and beverages such as salads, steaks, soups, pastas, individual dishes, desserts, fruits, vegetables, bakery items, snacks, etc. To bring the product down Okaju brand like fresh vegetables, fruits, sandwiches, wraps etc. are sold through different channels. Including providing catering services

2. Quick Service Restaurant (QSR) business under the brand “Ohkajhu Wrap & Roll”: The company is setting up a store to sell products like salads, salad wraps, sandwiches, burgers and healthy menus. The name is “Ohkajhu Wrap & Roll” and it is an extension of the menu sold at Ohkajhu Restaurant. The first branch is expected to start operating in the second quarter of 2024.

3. A store selling healthy fruit and vegetable juices under the “Oh Juice” brand: This is an extension of the list of organic fruits and vegetables sold at Oh Juice. Let us develop additional formulas. The first branch is expected to start operating in the second quarter of 2024.

Previously, PTT Oil and Retail Business Public Company Limited (OR) acquired 20% of the shares through the establishment of a subsidiary, Modulus Venture Company Limited (Modulus).

Open shareholder structure

The shareholder structure as of March 21, 2024 consists of the Ekachaipattanakul family owning 208,800,000 shares, representing 46.40%, which after the IPO, will be reduced to 190,356,000 shares, representing 31.26%.

Mr. Jerayut Voabunfon owns 100,800,000 shares at 22.40%, which after the initial public offering will be reduced to 93,394,000 shares at 15.34%.

As for the Suchai Bonsiri family, which owns 50,400,000 shares, or 11.20%, after the initial public offering, it will be reduced to 44,450,000 shares, or 7.30%.

As for Modulus Venture Company Limited (Modulus), a subsidiary in which OR owns 100.0% shares indirectly through PTT OR Holdings Company Limited, it owns 90,000,000 shares in OKJ, representing 20.00%. After the IPO, holdings will increase to 121,800,000 shares by 20.00%.

Mr. Pichet Sethi Amnoi, Managing Director of Bualuang Securities, said that the three major shareholders, namely 1) Mr. Chalkakorn, 2) Mr. Jerauth and 3) Mr. Woradej and Modulus, have submitted a letter of intent without legal obligations (non-binding letter).

Modulus will purchase a total of 31,800,000 original common shares from the co-founders, representing 5.2% of the post-IPO share count, at the same IPO share offering price on the first day OKJ shares trade on the stock exchange. The transaction will be conducted on Big Lot's board of directors to maintain Modulus' shareholding.

The company's performance during 2021-2023

The company generated income of 803.02 million baht, 1,214.91 million baht, and 1,716.85 million baht, respectively, and net profit was -84.55 million baht, 38.32 million baht, and 140.65 million baht, respectively. As of December 31, 2023, The company's total assets were 1,349.93 million baht, its liabilities were 772.01 million baht, and its total shareholders' equity was 577.92 million baht.

The company follows a policy of distributing dividends to shareholders of no less than 40% of net profits from the company's separate financial statements. After deducting corporate income tax and allocating various reserves. All types as specified in the company's laws and regulations.

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