Pluk Phak Praw Rak Mae Public Company Limited (SET: OKJ), one of the most anticipated stocks in the Thai exchange, launched its first trading day on Friday, with its share price soaring by 64% from the THB 6.70 IPO price to THB 11.00 per share at the open.
The company has a positive view from analysts in the market pricing its target above THB8.00 per share.
Globlex Securities has reported that the market consensus has determined a fair value range for OKJ’s shares, suggesting a price between THB 7.90 and THB 8.10 per share.
Bualuang Securities gave a base price for OKJ between THB 7.90 and THB 8.10 for the year 2025. This valuation is based on the anticipated performance of the company from 2024 to 2026, where OKJ is expected to see an average growth rate of 25%. This forecasted growth rate notably exceeds the average profit growth projection of 13% for the restaurant and dessert sector during the same period.
CGS International Securities (CGSI) has estimated a base price of THB 8.45 for shares of OKJ, reflecting positive expectations for the company’s future growth. The analyst projects a Compound Annual Growth Rate (CAGR) of 32.1% from 2024 to 2026. Total revenue is expected to reach THB 2,362 million in 2024, marking a 37.9% increase, climb to THB 3,183 million in 2025 with a 34.8% rise, and achieve THB 4,123 million in 2026, an increase of 29.5%.
Krungthai XSpring Securities has determined the fair value of OKJ shares for the year 2025 at THB 8.69 per share. This valuation is based on the Earnings Yield strategy, with an Earnings Per Share (EPS) forecast of THB 0.47. The calculation incorporates an Expected Return of 5.4%, along with a Non-Interest Yield of 2.8% and an Equity Risk Premium of 2.6%.
Meanwhile, the following list is top ten most allocated shareholders:
- UOB Kay Hian Pte Ltd. holds the largest portion, with 12,500,000 shares, representing approximately 7.80% of the total shares.
- LGT Bank AG has secured 8,000,000 shares, approximately 5.3%.
- K Mid Small Cap Equity RMF (KMSRMF) is allocated 6,871,200 shares, about 4.29%.
- Bualuang Long-Term Equity Fund (B-LTF) has claimed 3,037,100 shares or roughly 1.91%.
- Social Security Office by MFC Asset Management PCL holds 2,171,200 shares, accounting for 1.37%.
- Power BI EGAT Provident Fund is allocated 1,940,800 shares, which is 1.22%.
- K Mid Small Cap LTF holds 1,729,900 shares, approximately 1.09%.
- SCB Dividend Stock 70/30 Long Term Equity Fund has taken 1,705,100 shares or about 1.07%.
- AIA Enhanced SET 50 is allocated 1,465,100 shares, nearly 0.92%.
- Wattana Suwachanakorn owns 1,315,600 shares or approximately 0.83%.
