According to its financial adviser Asset Pro Management, FN will launch its initial public offering of 250 million ordinary shares at a price of 50 satang apiece. FN has a registered capital of Bt500 million. Proceeds from the IPO will be mainly invested in opening additional outlets.

FN has seven outlets in Thailand, each in Phetchaburi, Kanchanaburi, Pattaya, Singburi, Hua Hin, Sri Racha, and Pak Chong.

It will launch four more outlets by 2018, one of which is expected to open in Ayutthaya in the fourth quarter this year. The cost of setting up new outlets is estimated at Bt120 million each. It will also spend proceeds on renovating its existing seven outlets at a cost of Bt7m each.

Last year FN had sales revenue of Bt1.1 billion with net profit of Bt146.43 million. During the first six months of this year, sales revenue was Bt525.79 million with net profit of Bt68.95m.