Wellspire Holdings Bhd, a distributor of snack food in Thailand, has signed an underwriting agreement with TA Securities Holdings Bhd for the group's initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The IPO entails a public issue of 124.6 million shares and an offer for sale of a similar number of existing shares, Wellspire said in a statement on Tuesday (Dec 13).

Of the public issue shares, 36 million will be made available to the public via balloting, while 10 million will be allocated to the eligible directors and employees of Wellspire. The remaining 78.6 million shares will be allocated by way of private placement to selected investors.

Wellspire said TA Securities will underwrite a total of 36 million shares.

Wellspire Group focuses on snack food with sunflower seeds as its main product. The group is the exclusive distributor of "ChaCha" brand sunflower seeds and nuts for the Thai market.

The group also distributes other seeds and nuts, and baked and confectionery products, comprising third-party brands as well as Wellspire's own brands.

"Proceeds from the IPO will be utilised to acquire or construct a warehouse and operational facility in Thailand, fund working capital and defray listing expenses," said Wellspire.

"The location of the warehouse and operational facility is set to be in the central region of Thailand or within the Pathum Thani province, which will be strategically located close to Bangkok ports, for receipts of purchases from overseas suppliers," the group added.

This post has been edited by nexona88: Jul 10 2023, 04:06 PM

Apply in Thai Bath.... Why not Bangkok stock exchange, why klse. Remember those day kena China company ipo con kau kau.

Maybe the exposure is more in Malaysia...
More $$$ to catch...

There's reason why some called our country as BolehLand 😂

The sunflower seed brand is famous and top selling in Malaysia hence why it is listed here

It is more well known here than it’s home country and they are looking to export via Malaysia as it is easier to export from Malaysi

Hmm...
Famous brand huh?
No wonder they want to list here.... Already gotten name & the exposure needed...

Malaysia is halal hub...
Well known around the world... Can export to middle east country easily too.... Same Islamic country 🎉🥳

I believe that is one of the reason why they listed in KLSE as they are looking into venturing for global halal market as Jakim certification is well known for Middle Eastern markets

Yes. Think the same too...

Ours halal certificate is well recognize whole world...
We like some benchmark for others....

But to get the certificate is troublesome.... Many layers & thing needs to fulfill.... Once u gotten it. Smooth sailing all the way...

The checklist is damn long and stringent compared to Middle East is damn easy 👏

I think this is the first Thai co applyig for IPO listing in BSKL.
Takut nak mohon.Nanti macam China IPO,merudum.

Hmmm...latest pat% drop kaw2..

IPO to trap people.Macam ni drop like waterfall lah on listing day

Suspected half yearly accounts as 2022 still not end

Toyota Vellfire come with thailand keropok

nobody interested ahhhhhhhhhhhhhhhhhh

wah lau wat happen

come on......keropok selling very hot

ok lah cuba Sepuluh biji

jangan takut 0.23 cts saja

This post has been edited by pileepalah: Jan 1 2023, 09:50 AM

Any TP so far?

hopefully can get some small profit
if can untung besar is big ang pau to everybody here

dun know lah so far no snack foods listing in bursa for so long

anything between 30cts to 40cts is consider good oreli

Anyone going for this IPO? Thinking to skip this actually.

foreign company usually doesn't do well
too many con company already
I will skip too

May be same as Chinese co.No hope to profit from this IPO.I also will skip.

i go for it, food industry.

wah many skip this company huh