Platinum Fruits Public Company Limited (PTF) filed with the SEC on 20 December 2024, preparing to enter the stock market under the ticker symbol PTF. The company is offering 200 million IPO shares to raise funds for expanding its export market. UOB Kay Hian (Thailand) Public Company Limited is serving as the financial adviser. The company reported over 5.7 billion baht in revenue for the first nine months and plans to expand the export market for longan to India.
Mr. Theerasak Taweepiyamaporn, Managing Director of Corporate Finance at UOB Kay Hian Securities (Thailand) Public Company Limited (UOBKH), acting as the financial adviser, revealed that Platinum Fruits Public Company Limited (PTF)—a company primarily engaged in exporting premium fresh fruits and vegetables to over nine countries and special administrative regions in East Asia, including durian, longan, mangosteen, and coconut—has filed a registration statement and draft prospectus with the Securities and Exchange Commission (SEC) on 20 December 2024. This is to offer an initial public offering (IPO) of 200 million shares, representing 25% of the total issued and paid-up ordinary shares of the company after the IPO.
Following the IPO, Platinum Fruits Public Company Limited will have a registered capital of 400 million baht, consisting of 800 million shares, up from the current issued and paid-up capital of 300 million baht, consisting of 600 million shares, with a par value of 0.5 baht per share.
Mr. Natakrit Eamskul, Chief Executive Officer of Platinum Fruits Public Company Limited (PTF), stated that the company operates under the vision "Growing Together Fruitfully." They conduct end-to-end business, from sourcing "quality" agricultural products selected from fruit orchards certified by GAP and Global GAP standards to understanding the diverse market demands of consumers in each country. They have also invested in a One-Stop Service logistics system, distributing fresh fruit exports across Asia and Europe, including China, Indonesia, India, Taiwan, Hong Kong, New Zealand, and the United Kingdom, among others.
Moreover, the company emphasises developing Thai farmers' knowledge to improve fruit quality to meet the demands of target markets, resulting in year-round exportable fruit. They are also conscious of environmental conservation and enhancing the quality of life in communities, ensuring that Platinum Fruits' business contributes to sustainable growth and coexists harmoniously with all stakeholders.
Currently, Platinum Fruits operates through four subsidiaries:
- 888 Fruits & Vegetables Co., Ltd. (TFV): exports fresh fruits and vegetables.
- 888 Logistic Co., Ltd. (TPL): provides domestic and international container transportation.
- Sky Shore Trading Co., Ltd. (SST): offers comprehensive container services, including customs clearance, ship chartering, and cargo handling at Laem Chabang port.
- Sky Shore Depot Co., Ltd. (SCD): leases land for container storage.
For the years 2021–2023, the company recorded total revenues of 3,613.06 million baht, 5,345.51 million baht, and 5,489.40 million baht, respectively. In the first nine months of 2024, the company achieved total revenues of 5,797.60 million baht, an increase of 1,012.89 million baht or 21.17% from the same period last year, which was 4,784.71 million baht. The net profit was 247.61 million baht, an increase of 153.98 million baht from the same period last year. This growth resulted from the business plan, which boosted sales in the main markets and continuously expanded the customer base in new countries. Recently, the company successfully opened the market for exporting premium-grade longan to India.
Furthermore, the company has a policy of paying dividends at a rate of no less than 40% of the net profit from the company's separate financial statements, after deducting corporate income tax and all types of reserves, in accordance with applicable laws, regulations, and guidelines.
