According to several reports in the market citing the source with knowledge of the plan, Minor International Public Company Limited (SET: MINT) is assessing a potential initial public offering (IPO) for its restaurant arm, Minor Food, in Hong Kong.
As an operator of brands such as Burger King, Dairy Queen, Bon Chon, and Swensen’s in Thailand, Minor Food is reportedly exploring a Hong Kong listing that could generate proceeds exceeding $400 million, with discussions underway.
Despite a surge after the election last Sunday, the Thai stock market is still underperforming other major markets in the region. Several firms are reportedly seeking an alternative listing in other markets, such as the Thai crypto Bitkub and Line Man Wongnai, for a larger pool.
Figures from Thailand’s stock exchange show IPO capital raised last year totaled THB 13 billion, marking the lowest volume since 2010. Thailand’s SET Index, the main bourse, was down 10% in 2025.
