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Thai cafe operator Mudman to raise $32 mln in IPO
March 30, 2017 / 11:26 AM / 8 months ago

Thai cafe operator Mudman to raise $32 mln in IPO

BANGKOK, March 30 (Reuters) - Mudman Pcl, which runs cafes and restaurants such as Au Bon Pain and Dunkin’ Donuts in Thailand, plans to raise 1.1 billion baht ($32 million) in an initial public offering (IPO) to help repay debt and fund expansion.

The company plans to sell about 211 million new shares at 5.25 baht each, parent firm Sub Sri Thai (SST) said in a statement to the stock exchange on Thursday.

Of the total, up to 41.44 million shares will be offered to SST’s existing shareholders on March 29-31 and the rest will be sold to the public on April 3-5, it said.

Maybank Kim Eng Securities (Thailand) is the IPO lead underwriter and Siam Commercial Bank is the financial adviser.

Mudman also runs the Baskin Robbins franchise in Thailand as well as its own brand Greyhound Cafe.

Overall, it has 439 branches of Au Bon Pain, Dunkin Donuts, Baskin Robbins and Greyhound restaurants and cafes in Thailand and is planning to open its first Greyhound Cafe in London this year. ($1 = 34.4 baht) (Reporting by Wirat Buranakanokthanasan; writing by Orathai Sriring; editing by David Clarke)

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