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Date/Time
13 Jun 2022 13:12:00
Headline
mai News :mai welcomes packaging printing service provider STP on June 14
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SET
Source
SET
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                                                                   SET News 43/2022
                                                           June 13, 2022

mai welcomes packaging printing service provider STP on June 14

Bangkok, June 13, 2022 - Market for Alternative Investment (mai) will list 
Sahathai Printing & Packaging pcl, a manufacturer and printing service provider
for paper packaging and all kinds of printed materials, on June 14, under the
ticker symbol "STP". The company has  a market capitalization at its initial
public offering (IPO) of THB 1.80 billion (approx. USD 52.17 million).

mai President Prapan Charoenprawatt said that STP would list and start trading 
on mai in Industrials industry group.

STP provides packaging printing services using offset printing system for 
packaging made of paper supplied by the company or customers and all kinds of
printed materials. The company offers one-stop services starting from developing
and designing packages, producing high quality plates, printing up to 12
colors, to providing post-printing services as required by customers, such as UV
 coating, silver and gold foil stamping, and corrugating and die-cutting.

The company's large-scale clients consist of manufacturers of export-oriented 
products in food and beverages, medical supplies, and consumer goods. In 2021,
packaging products made of paper supplied by the company accounted for 94
percent of total revenue, and services and other revenue made up 3 percent each.
STP's current factory is located on a 25-rai land plot on a 30-year leasing
contract in Ladlumkaeo district, Pathum Thani province (north of Bangkok), with
expiration date on August 31, 2049. The plant has an annual production capacity
of 49.7 million printed sheets.

STP has a registered paid-up capital of THB 100 million, consisting of 74.60 
million existing common shares and 25.40 million newly issued shares, with a par
value of THB 1.00 each. It offered 17.99 million newly issued shares to persons
under the underwriters' discretion, 2.50 million shares to institutional
investors, 3.81 million shares to its patrons, and 1.10 million shares to its
directors, executives and employees on June 2, and 6 - 7, 2022, at THB 18 each,
for a total of THB 457.20 million. The IPO price was equivalent to
price-to-earnings ratio of around 15 times. The earnings per share is equal to
THB 1.22, which was calculated based on the company's net profit of THB 122.30
million in the past 12 months (from April 1, 2021 to March 31, 2022), divided by
fully diluted shares. KGI Securities (Thailand) pcl is its financial advisor
and Asia Plus Securities Co., Ltd. is the lead underwriter.

STP Chief Executive Officer Suranai Rojwongcharas said that the has  the 
experience and expertise in packaging printing business for more than 50 years
with focus on quality services and world-class production process catering to
customers' needs, as such gaining customer trust and confidence continuously.
The proceeds arising from the fundraising will be used to invest in factory
expansion and additional machinery, and as working capital.

STP's major shareholder after IPO is the Rojwongcharas family (74.60 percent). 
STP's dividend policy is to pay no less than 40 percent of net profit after tax
from the company's separate financial statement of each period, and after legal
reserves and those required by the company's regulations.

For more information on STP, 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.sahathaiprinting.com and www.set.or.th.

   
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