By The Nation
After the prospectus takes effect, ZEN will proceed with its investment plan to expand its restaurant branches in Thailand and abroad. Its goal is to become the leader in the food service business.
On Wednesday, ZEN signed a contract to appoint Kasikorn Securities to underwrite its IPO shares and also to appoint SCB Securities Co Ltd, Finansia Syrus Securities Pcl, KGI Securities (Thailand) Pcl and KTB Securities (Thailand) Pcl as co-underwriters.
Preparations are being made for investor subscription on February 7, 8 and 11. On February 20, ZEN shares are expected to see their first day of trading in the Stock Exchange of Thailand.
ZEN Corporation Group Plc now has registered capital of Bt300 million, divided into 300 common shares at a par value of Bt1 per share. The registered capital is composed of Bt225 million in paid-up capital and the group will offer to sell 75 million IPO shares, or no more than 25 per cent of all issued and paid-up common shares of the company after this IPO.
The funds raised will be used to expand the business of the group –including expansion and improvement of restaurant branches, repayment of loans from commercial banks. It will also be used as working capital in the operation.