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Date/Time
19 Jul 2021 09:52:00
Headline
SET News :SET welcomes manufacturer and distributor of beverages & snacks "SNNP" on July 20
Symbol
SET
Source
SET
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                                                                 SET News 51/2021
                                                        July 19, 2021

SET welcomes manufacturer and distributor of beverages & snacks "SNNP" on July 
20

BANGKOK, July 19, 2021 - The Stock Exchange of Thailand (SET) will list 
Srinanaporn Marketing pcl, a manufacturer and distributor of beverage and snack
products, on July 20, under the ticker symbol "SNNP". The company has a market
capitalization at its initial public offering (IPO) of THB 8.83 billion (approx.
 USD 270.44 million).

SET Senior Executive Vice President Manpong Senanarong said that SNNP would list
and start trading on SET in the Agro & Food Industry industry group, Food &
Beverage sector.

SNNP manufactures and distributes soft drinks and snacks under well-known brands
comprising 1) beverage products: Jele, Daiyamoto, Coolly Kool, and Magic Farm;
2) snack products: Bento, Tako, Lotus, and Chocky. The company distributes
products through a wide variety of sales channels in both modern trade and
traditional trade, generating total sales from domestic and overseas markets
especially CLMV countries including Cambodia and Vietnam. SNNP has invested in
distribution business to diversify its own product distribution risks, relying
less on outside distributors, while enhancing the company's accessibility to
consumers.

SNNP has a registered paid-up capital of THB 480 million, consisting of 720 
million existing common shares, and 240 million newly issued shares with a par
value of THB 0.50 each. Of the total newly issued shares, the company offered
149 million shares to persons at the underwriters' discretions, the company's
patrons, and directors and executives of the company and subsidiaries during
July 7 - 9, while the remaining 91 million shares were allocated to
institutional investors during July 12 - 14, at THB 9.20 each, for a total of
THB 2.21 billion. The IPO price was equivalent to price-to-earnings ratio (P/E
ratio) of 83.2 times. Siam Commercial Bank pcl is the financial advisor and SCB
Securities Co., Ltd. is the lead underwriter.

SNNP Chief Executive Officer Viwat Kraipisitkul said that SNNP has the vision to
focus on delivering excellence in products and services and building brand
top-of-mind among consumers of all generations and genders. The company is
committed to offering quality products to consumers at all times and all
occasions. SNNP has established the R&D team to continuously create varieties of
innovative products, and distribution system with an extensive market coverage.
The IPO proceeds will be used to invest in building a new factory via a
subsidiary in Vietnam for the production of beverages and snacks, aiming to
strengthen international trade, with more efficient cost management, and to
become ASEAN's leader in soft drinks and snacks. Moreover, part of the fund
raised will be used for repayment to financial institutions, and as working
capital.

SNNP's dividend policy is to pay no less than 60 percent of net profit after 
corporate income tax based on the company's separate financial statement and
various reserves. The dividend payout may be subject to change from the set
policy, depending on the company's performance, cash flows, financial liquidity,
investment plan, other necessity and suitability in the future, as well as
other factors.

SNNP's major shareholders after the IPO are Kraipisitkul family and 
Chaisathaporn family who are the firm's founders holding 75 percent in total.

For more information on SNNP, please see the company's prospectus at the 
Securities and Exchange Commission's website at www.sec.or.th; and for general
information, please visit www.snnp.co.th and www.set.or.th.

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