CPF (Thailand) Public Company Limited (CPFTH), a subsidiary in which Charoen Pokphand Foods Public Company Limited (CPF) holds a 99.99% stake, is delighted by the feedback from the offering of five series of debentures to institutional and/or high net worth investors during the period of 17-19 August 2020. The oversubscription reflects investor confidence and the potential growth of CPF Group which aims to keep expanding its agro-industrial and food business according to its vision to become the “Kitchen of the World”.
The Joint Lead Arrangers disclosed that the CPFTH debentures attracted considerable interest from investors, indicating their trust in CPFTH’s strong and sustainable foundation as well as their certainty in growth opportunities and potential of the agro-industrial and food business, which is the country’s essential industry. CPFTH is considered to be at the forefront of this industry, as reflected by CPFTH’s outstanding performance in 2019 recorded an operating income of over 144 billion baht in 1Q/2020, CPFTH showed a 7% YOY increase in sales revenue. CPFTH has a credit rating of A+ from TRIS Rating Co., Ltd. further bolstered investor confidence.
Mr. Paisan Chirakitcharern, Chief Financial Officer of CPF, revealed that there has been impressive feedback from investors and would like to thank institutional investors and high net worth investors for their trust in investing in the debentures of CPFTH. The subscription was over the Company’s target which resulted in CPFTH’s decision to exercise greenshoe option to support demand from investors, total issue size is 20,000 million baht., and thank to all seven Joint Lead Arrangers, namely Krungthai Bank, KASIKORNBANK, Siam Commercial Bank, Government Savings Bank, CIMB Thai Bank, TMB Bank, and Phatra Securities, all of which were key supporters who presented information to investors, leading to the impressive oversubscription.