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Date/Time
22 Jul 2021 09:49:00
Headline
SET News :SET welcomes prestressed concrete manufacturer and distributor "STECH" on Jul 23
Symbol
SET
Source
SET
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                                                                     SET News 53/2021
                                 July 22, 2021

SET welcomes prestressed concrete manufacturer and distributor "STECH" on Jul 23

BANGKOK, July 22, 2021 - The Stock Exchange of Thailand (SET) will list Siam 
Technic Concrete pcl, a manufacturer and distributor of prestressed concrete
products, product logistics and piling services provider, on July 23, under the
ticker symbol "STECH". The company has a market capitalization at its initial
public offering (IPO) of THB 2.02 billion (Approx USD 61.93 million).

SET Senior Executive Vice President Manpong Senanarong said that STECH would 
list and start trading on SET in the Property & Construction industry group,
Construction Materials sector.

STECH manufactures and distributes prestressed concrete products under "STEC" 
brand, consisting of prestressed concrete piles, prestressed concrete electric
poles and pole assembly products, girders and plank girders, and PC spun piles
catering to customers in the public and private sectors, while providing
one-stop services related to the company's products such as the product
transportation and piling services. In addition, STECH is capable of being
construction contractor pertinent to the core business, gaining a proven track
record in installing 115kV electric power transmission and fiber optic cable.

STECH has a registered paid-up capital of THB 725 million, consisting of 521.5 
million existing common shares and 203.5 million newly issued shares, with a par
value of THB 1.0 each. It offered newly issued shares to the general public
during July 13 - 16 at THB 2.78 each, for a total of THB 565.73 million. The IPO
price was determined based on price-to-earnings ratio  (P/E ratio) at 14.14
times, calculated from the company's financial performance in the past 12 months
divided by fully diluted shares. Jay Capital Advisory Company Limited is the
financial advisor and KTBST Securities pcl is the lead underwriter.

STECH Chief Executive Officer Watchai Mongkolsrisawad said that being listed on 
SET is a key milestone that will help enhance the company's competitiveness,
increase growth opportunity, and strengthen the capital position. The IPO
fundraising will be used to invest in the construction of two new factories to
expand prestressed concrete business and raise production capacity of the
existing factories, to underscore the company's strength in different plant
locations across several regions. Moreover, some of the proceeds will be used
for debt repayment to financial institutions, and as working capital.

STECH's dividend policy is to pay no less than 40 percent of net profit after 
corporate income tax from the company's separate financial statement and legal
reserves. However, such   dividend payout is subject to change, depending on the
company's performance, financial position, liquidity, business expansion plan,
necessity and suitability in the future, and other factors related to business
management as the company's board deems suitable or appropriate.

STECH's major shareholders after the IPO are Ruam Chai Kij Company Limited
(49.24 percent), Mongkolsrisawad family (10.11 percent), and Wongthananun family
 (3.89 percent).

For more information on STECH, 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.stec.co.th as well as www.set.or.th.

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