Mr. Chalakorn Ekchaipatanakul, CEO of Pluk Phak Praw Rak Mae Public Company Limited (SET: OKJ), reported that the company raised a fund of 1.0239 billion baht from its Initial Public Offering (IPO) of 159 million shares at a price of 6.70 baht per share. As of December 31, 2024, OKJ has utilized the funds in four key areas:
- Business Expansion: The company has spent 103.93 million baht of the projected 753.9 – 758.9 million baht budget on expanding Ohkajhu branches, Ohkajhu Wrap & Roll restaurants, Oh! Juice shops, and other new businesses. This includes branch improvements and expanding distribution channels, leaving a balance of 604.97 million baht.
- New Central Kitchen & Management: OKJ has used 15.52 million baht out of the estimated 190 – 230 million baht budget for constructing a new central kitchen, and developing machinery, equipment, communication technology, and systems for raw materials management, inventory, delivery, and office operations. The remaining balance is 214.48 million baht.
- Agriculture Efficiency & Lab Development: The company invested 9.9 million baht of the projected 30 – 35 million baht budget on machinery, equipment, and infrastructure systems to enhance the efficiency of crop cultivation, as well as constructing an in-house lab for product quality control. A balance of 25.10 million baht remains.
- Loan Repayment: OKJ has used 20.5 million baht of the projected 0 – 50 million baht for repaying loans from financial institutions, leaving a balance of 29.5 million baht.
Overall, the company has used 149.85 million baht of IPO funds, out of a total of 1,023.9 million baht. As of December 31, 2024, OKJ has a remaining balance of 874.05 million baht.
