Thailand’s Zen Corporation completes IPO

Thai restaurant operator Zen Corporation secured THB975 million (US$31.35 million) via an IPO issued last Wednesday.

The firm sold all 75 million shares on offer, representing 25 per cent of its registered capital, at THB13 each. Its stock price grew 17.69 per cent over the course of its trading debut, as strong demand pushed the value per share up to THB15.30 on the first day.

Zen Corporation is known for its various restaurant chains, including its eponymous brand as well as Musha by Zen, Sushi Cyu Carnival Yakiniku, AKA, On the Table Tokyo Cafe, Tetsu and de Tummour.

The firm also operates food delivery, catering, restaurant management and consultancy services, as well as food retail operations.