ไทย
SKIN, a Thai beauty product developer and distributor with a deep understanding of modern consumers, has successfully closed its IPO subscription. All 44 million shares were fully subscribed at 1.20 Baht each, reflecting strong investor confidence in the company’s fundamentals and future growth potential. The company is set to begin trading on the mai on September 24 after raising capital to accelerate new product development and expand its distribution channels to enhance its market competitiveness.
Dr. Somphob Sakpanpanom, Chairman of Asset Pro Management Co., Ltd. (APM) and SKIN’s financial advisor, stated that this fundraising will create significant business growth opportunities for SKIN. As the company has no interest-bearing debt, the entire 52.8 million Baht raised will be used to its full potential for business expansion, including launching new products, boosting brand awareness, and broadening its nationwide distribution network.
The founders and major shareholders, who collectively hold a 69.44% stake, have demonstrated their commitment to the business. The “executives” with a 55% stake have agreed to a one-year lockup period. Additionally, “non-executive shareholders” have voluntarily agreed not to sell an additional 20.80 million shares (14.44% stake) for three months from the first day of trading. This voluntary lockup, beyond the standard quiet period, reinforces their dedication to the business and aims to build confidence among all stakeholders.
Mr. Somsak Sirichainarumitr, Chief Executive Officer of APM and financial advisor to SKIN, confirmed that SKIN will commence trading on the mai in the Consumer Products sector on September 24. A total of 44 million shares were offered at par value of THB 0.50 per share and sold at THB 1.20 per share during the subscription period from September 15–17. The IPO received strong demand from investors, reflecting confidence in the company’s business fundamentals and growth potential.
SKIN’s strength lies in its ability to continuously develop high-quality beauty products aligned with consumer needs and evolving beauty trends. Supported by ongoing industry growth and the rising popularity of “T-Beauty” in Thailand, the company is well-positioned to capture expanding market opportunities.
Mr. Vicha Tomanah, Managing Director of Investment Banking at Phillip Securities (Thailand) Public Company Limited (PST) and the lead underwriter, expects strong investor interest in SKIN shares. He stated that the IPO price of 1.20 Baht per share is appropriate, based on the company’s solid fundamentals, strong financial position, and good liquidity. The price-to-earnings (P/E) ratio was set at 12.00 times, based on the last four quarters’ performance.
Mr. Chanwit Khieonawawongsa, CEO of SKIN, expressed gratitude to investors for the successful IPO. He noted that the funds will be used as working capital to drive long-term growth, including R&D for new product categories such as makeup care, cosmeceuticals, and health products. This will expand their product base and increase market competitiveness. The company aims to launch 20 new SKUs this year.
“The company plans to allocate proceeds as working capital to drive long-term growth, including investments to expand existing products, develop new innovations in makeup care, cosmeceutical skincare, and health products. This will broaden our product portfolio and enhance competitiveness. Additionally, the funds will support marketing and promotional activities to strengthen brand awareness for Skinsista and Dermie, with a target of launching 20 new SKUs within this year,” said Mr. Charnwit.