Suwin Kraibhubes, CEO of Beauty Community Plc
Two major shareholders of SET-listed Beauty Community Plc, a cosmetics company, have sold a combined 10% stake to local and foreign institutional investors for 3.3 billion baht.
The company informed the Stock Exchange of Thailand that Suwin and Tanyapon Kraibhubes sold their combined 300 million shares in Beauty via an overnight global book-building transaction.
The share price of 11 baht was determined through the book-building process with institutional investors. Phatra Securities is the underwriter.
After the share sale, Mr Suwin and Mrs Tanyapon will still be the major and controlling shareholders of Beauty. Mr Suwin will hold a 17.47% stake while Mrs Tanyapon will have 8.47%.
Their combined shareholding will reduce to 25.94% from 35.94%.
Beauty said in its SET filing the objective of the share sale is to increase the proportion of institutional investors and promote a more diverse shareholding structure. The proportion of local and foreign institutional investors will rise to 21% and 35%, respectively, of the company's free float.
Mr Suwin will continue as the company's director and chief executive while Mrs Tanyapon will remain director. There will be no change in the management structure.
Beauty distributes three main products: make-up, skincare and accessories. It was established in 2000 and has 300 million baht in registered capital.
The company sells make-up and skincare products under four brands: Beauty Buffet, Beauty Market, Beauty Cottage and Made in Nature.
During the first nine months this year, Beauty posted a net profit of 478 million baht on revenue totalling 1.85 billion baht. Last year, its revenue stood at 1.79 billion baht.
Thailand's cosmetics industry was worth over 260 billion baht last year with 7,000 local manufacturers. Of the total, 97 billion baht was from exports, reported the Thai Cosmetics Manufacturers Association.
In the first nine months this year, the cosmetics industry grew by 5% year-on-year.
BEAUTY shares closed yesterday on the SET at 11.30 baht, down 90 satang, in trade worth 4.59 billion baht.
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