Thai company Do Day Dream, which makes and distributes Snail White skincare products, plans to raise up to THB4 billion (US$123 million) through an IPO.
It says it will sell no more than 76 million shares, and has scheduled the first trading for December 26.
“The company has plans for growth in Thailand and overseas, especially Asia,” says CEO Sarawut Pornpatanark.
He says the IPO proceeds will be used to expand production capacity and distribution channels, as well as work on research and development.
There are also plans to build another factory next year to increase production capacity from the current 1.9 million litres to 4 million litres.
Do Day Dream reported total revenue of THB1.26 billion for the first nine months of this year, up 27.6 per cent from the same period last year. Of this, nearly 64 per cent was generated from the domestic market with the balance from overseas.
