Mr. Somsak Sirichainarimit, Chief Executive Officer of Asset Pro Management Co., Ltd. (APM), as financial advisor to Asian Palm Oil Public Company Limited (APO), revealed that the company has submitted an application for the first public offering of additional ordinary shares (IPO) and the prospectus to the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) on July 6, 2023.

APO currently has a paid-up capital of 120 million baht and plans to increase its capital by another 50 million baht. The par value (par) of each share is 0.50 baht, bringing the total post-IPO capital to 170 million baht. The company will offer 100 million new ordinary shares for public sale (IPO), representing 29.41% of the total number of ordinary shares issued and outstanding by the company after the offering. The company will list all of its ordinary shares on the mai.

Mr. Suriya Thamthira, Deputy Managing Director of APM, as financial advisor, added that the fundraising and listing on the mai will increase the company’s potential, expand its business opportunities, and improve its competitiveness. It will also increase the company’s credibility with customers, partners, and financial institutions, and create long-term sustainability.

Mr. Sitthipas Udompholkul, Chief Executive Officer of APO, revealed that the company is ready to list on the mai. The purpose of the fundraising is to invest in improving the efficiency of machinery in the production process and to provide working capital to operate the business and expand the business in the future.

With over 40 years of experience, APO is a leading expert in crude palm oil extraction. The company sells its main products extracted from crude palm oil and byproducts, as well as produces electricity from biogas to sell to the Provincial Electricity Authority. The company is committed to creating a sustainable and integrated agriculture business to deliver quality products at a reasonable price. This is done through the efficient procurement of raw materials and production processes, the operation of the business in accordance with good corporate governance and corporate governance policies, and the focus on all stakeholders, from shareholders, directors, executives, and employees to partners, customers, competitors, and social and environmental responsibility, especially local communities.