BANGKOK: T.Man Pharmaceutical Co., Ltd. (TMAN) commenced its debut trading day with shares opening above the subscription price, marking a 14.72% increase from the initial 2.40 baht. This performance reflects investor confidence as the company enters the public market with substantial paid-up registered capital post-IPO.
According to Thai News Agency, TMAN’s initial public offering involved the sale of 102 million ordinary shares, which included 71.43 million newly issued shares and 30.57 million existing shares from TKW Capital Limited. The shares were offered to a range of investors, including institutional and company-related individuals, at a price of 16.30 baht per share. The total raised from new shares amounted to 1,164.31 million baht, with the total securities valued at 6,520.05 million baht at the IPO price. Kasikorn Securities Public Company Limited served as the financial advisor and underwriter for this distribution.
Mr. Prapol Thanachotephan, CEO of T.Man Pharmaceutical PCL, stated that the co
mpany is dedicated to innovation and producing effective products that enhance quality of life. With over five decades of expertise and ongoing research and development, TMAN aims to meet consumer needs in treatment and disease prevention while strengthening its brand. The funds raised will primarily be used to expand and enhance production efficiency to support future business growth.
Post-IPO, the major shareholders in TMAN include the Thanachotphan family, holding 74.5% of the shares. The company has established a dividend policy to distribute no less than 30% of net profit, as per its separate financial statements, after corporate income tax and reserves. This policy considers various factors to benefit both the company and its shareholders.