The Stock Exchange of Thailand will list i-Tail Corporation pcl, a leading manufacturer and distributor of pet food and treats for cats and dogs, on Dec 9 under the ticker symbol “ITC”.
The company, which is ranked number two in Asia and among the top 10 pet food makers in the world in terms of revenue, has a market capitalization at its initial public offering (IPO) of THB 96 billion (approx. USD 2.74 billion)
Thailand’s leading pet food manufacturer, I-Tail Corp Pcl, saw growth in its trading debut following the nation’s second-largest IPO this year.
From canned tuna to pet food
ITC is one of the leading original equipment manufacturers (OEM) of wet pet food and a flagship company for the production and distribution of pet foods and pet-related products of Thai Union Group pcl (TU), which is a leading global seafood company and one of the world’s largest producers of ambient tuna products.
ITC produces and distributes mainstream and premium cat and dog food and treats. The company’s business focuses mainly on being an OEM for customers with world-famous brands like Mars and Smucker’s.
The division of Thai Union Group Pcl, a manufacturer of frozen and seafood goods, raised 21.1 billion baht ($606 million) by issuing 660 million shares at 32 baht apiece, the maximum price advertised. It is Bangkok’s largest launch since Thai Life In.