Snailwhite maker profits up, prepares for IPO offering
Do Day Dream Plc, the producer and distributor of Snailwhite skincare products with sales revenue of over Bt1.2 billion in 2016, reported a strong performance for the first half of 2017 with net profits reaching Bt209 million.
The company mainly attributed this to the addition of new product lines, effective marketing strategies and an overwhelming response in the premium mass market in Thailand and overseas, especially China.
The company said it is ready to move forward with its initial public offering (IPO) plan to raise funds to support expansion of production capacity and distribution channels, as well as research and development (R&D) improvement to cope with the rapidly growing beauty and skincare market across Asia.
Do Day Dream hopes the plan would enable it to achieve its goal of becoming one of Asia’s top three beauty companies, said company CEO Dr Sarawut Pornpatanarak,.
After the IPO, the company’s shareholding structure is expected to be changed. The Pornpatanarak family’s stake would shrink from the current 93.2 per cent to 70.8 per cent. North Haven Thai Private Equity Clarity Co (HK) Ltd, managed by Morgan Stanley, would see its stake slightly reduced from 6.3 per cent to 4.7 per cent. Other shareholders’ combined stakes would shrink from 0.6 per cent to 0.4 per cent. The general public would hold 24.05 per cent after the IPO.
