Sukishi Tinee Noi Plans IPO Filing in Late 2027, Listing in 2028, Targets Profit of 1.5 Billion Baht

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Sukishi Tinee Noi, under BNN Restaurant Group Co., Ltd., in which JMART holds a 30% stake, is preparing to file a registration statement with the Securities and Exchange Commission to offer securities to the public for the first time, or IPO, by late 2027, before listing the company on the stock exchange within 2028 to raise funds for business expansion and to repay debts to financial institutions. It targets net profit of 1.5 billion baht and is maintaining its 2026 revenue target of 13 billion baht, even though first-half total revenue came in at about 5.6 billion baht. It also targets a net profit margin of about 6-7% and aims to push it into double digits, or roughly 10%, through continuous branch expansion. In the third quarter of 2026, the company had about 140 branches in total and aims to reach 159 branches by the end of this year, covering 59 provinces, before expanding to about 180-190 branches the following year. The company is also adjusting its store model to offer more options, including Sukishi Tinee Noi Standard priced at 219 baht and Sukishi Tinee Noi Plus+ priced at 299 baht, to increase average spending per head. Meanwhile, Tinee Noi Barbecue plans to be revamped and closed to convert into the Nai Phran Moo Kratha brand, while Tinee Noi Gold is being reformatted into a Chinese-style suki with a target of only about 3-4 branches. The company is preparing to launch a new buffet brand late this year, a food line that is neither suki nor grilled, to expand its business base into other food categories. It is also giving importance to supply chain management amid rising costs, especially pork prices and oil prices, and is bringing in AI to help analyze queue booking data and using an E-learning system to train employees, who number about 10,000.

Impact on assets 1

Digital Finance & Tokenization▲ · 1 stocks
Jay Mart Public Company Limited
JMART
▲ PositiveCapitalrelevance

JMART holds a 30% stake in Sukishi Tinee Noi, which is preparing an IPO filing by late 2027 and a 2028 listing to raise expansion funds and repay debt.

Off-coverage companies 1

BNN Restaurant Group (Suki Teenoi)Private▲ Positive
CapitalDemandrelevance

BNN Restaurant Group's Sukishi Tinee Noi plans an IPO filing by late 2027 and listing in 2028, targeting 1.5 billion baht net profit and 13 billion baht 2026 revenue.

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