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SRPP advised AAI on its IPO and listing on the SET

SRPP News l 9 November 2022

SRPP represented Asian Alliance International Public Company Limited (“AAI”) in its initial public offering (IPO) and listing of shares on the Stock Exchange of Thailand (SET) in the 'Agro & Food Industry/Food & Beverage' category on November 1, 2022.

AAI is the flagship company of its parent company, Asian Sea Corporation Public Company Limited ("ASIAN"), in the pet market. More than 80% of the company's primary revenue is generated from pet food.

The company's starting price has climbed by Baht 2.35 or 42.34 percent from its initial public offering price of Baht 5.55 to Baht 7.90 due to the investors’ interest. The IPO consists of 637.5 million shares, of which 212.5 million are existing ordinary shares held by ASIAN and 425 million are freshly issued ordinary shares of AAI. AAI has allocated about 416 million existing and newly issued ordinary shares to the general public at a price of Baht 5.55 per share, and 8.9 million newly issued shares to directors, executives, and staff of AAI and its subsidiaries at a price of Baht 5 per share. AAI got roughly 2,353 million Baht via fund-raising.

The SET listing of AAI shares will strengthen the company's competitiveness and financial success. The funds raised will be invested in the manufacturing of moist pet food and the second automated warehouse, utilized as working capital, and repaid to banking institutions.

The transaction led by Panuwat Chalongkuamdee (Founding Partner), Chalida Siriyakorn (Associate), Pasinee Jiravitawat (Associate), and Pakjira Promkasetrin (Associate).

You may view Panuwat's profile here.

You may view Chalida's profile here.

You may view Pasinee's profile here.

You may view Pakjira's profile here.


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