Major condom maker TNR plans IPO by year-end

TNR, which is also the world’s largest condom manufacturer, with a capacity of 1.96 billion pieces a year, aims to expand its market share in Thailand with its OneTouch brand and expand into new markets in other regions. 
Manpong Senanarong, managing director of Kasikorn Securities Co, as financial adviser, said the process of listing the TNR IPO shares was under way after the firm had submitted it to the Securities and Exchange Commission for consideration. 
Of the 75 million IPO shares, half were allotted from capital shares issued by TNR and another half werefrom existing shares previously allotted to the company’s existing shareholders, he said, adding that the IPO shares would account for 25 per cent of the total TNR shares after the IPO.
TNR’s registered capital is Bt300 million at par value of Bt1 each. |Of that, Bt262.5 million (or 262.5 million shares, including 37.5 million shares allotted to the existing shareholders) is paid up and the remaining 37.5 million shares |will be newly issued to the |public. 
The subscription date, however, will be determined later once the company’s IPO filing is effective.
Proceeds from the IPO will be used for TNR’s working capital and loan repayment.
Amorn Dararattanaroj, vice president and chief executive |officer of TNR, said the company had two factories in Chon Buri, which mainly produce its own OneTouch brand of condoms. 
The products are sold via distribution channels both in and outside the country, including Cambodia, Laos, Myanmar, Vietnam and Egypt. 
He said TNR also produced |condoms for other brands both domestically and internationally, sold in more than 100 countries, under original-equipment-manufacturer deals.