Thaifoods Group postpones IPO
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The Bangkok blast is still disrupting the business sector, with Thaifoods Group (TFG) being the latest victim.
The company announced today that it would delay the initial public offering and the listing on the Stock Exchange of Thailand, which was originally scheduled for September.
The company just announced the listing schedule late July. It planned to sell no more than 1.4 billion shares to the public.
"The investment sentiment is not supportive to the listing. The company will continually monitor and evaluate the situation. During this time, we will strengthen our business with confidence that our stock would be attractive to investors," said Winai Teawsomboonkit, the founder and chief executive officer of the company.
TFG operates chicken and swire farms.
Its financial advisor is KT ZMico Securities.
The stock market came under selling pressure on Tuesday in the aftermath of the deadly explosion at the Ratchaprasong Intersection. Though rebounding slightly on Wednesday, the index remains below 1,400 points. At noon, the index stood at 1,371.12 points, losing 8 points from yesterday's closing.
