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Date/Time
15 Nov 2022 12:46:00
Headline
SET News :SET welcomes plastic and silicone manufacturer "POLY" on November 16
Symbol
SET
Source
SET
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                                                                     SET News 91/2022
                                                      November 15, 2022

SET welcomes plastic and silicone manufacturer "POLY" on November 16

BANGKOK, November 15, 2022 - The Stock Exchange of Thailand (SET) will list 
Polynet pcl, a leading manufacturer of products related to rubber, plastic,
silicone, mold for automotive industry, medical equipment and consumer products
on November 16, under the ticker symbol "POLY". The company has a market
capitalization at its initial public offering (IPO) of THB 3.06 billion (approx.
 USD 85 million).

SET Senior Executive Vice President Manpong Senanarong said that POLY would list
 and start trading on SET in the Industrials industry group, Automotive sector.

POLY manufactures and distributes products related to rubber, plastic, silicone 
and mold with one-stop services ranging from custom-made mold design, R&D for
production formulas as well as mold according to various usages in the
automotive industry, such as rubber dust cover, air vent mask and silicone
valves. POLY's main customers are Tier-1 parts manufacturers. In addition, the
company has expanded the business to other industries with higher growth
potential, consisting of such medical device and equipment industry as silicone
components of respirator sets, various surgical equipment & parts, as well as
consumer products industry such as silicone food bags, packaging rubber seals,
tea strainers and electrical components.

POLY has a registered paid-up capital of THB 450 million, consisting of 330 
million existing common shares and 120 million newly issued shares, with a par
value of THB 1 each. It offered the newly issued shares to the general public
during November 9 - 11 at THB 6.80 each. The IPO price was equivalent to the
price-to-earnings ratio (P/E ratio) of 20.4 times. KGI Securities (Thailand) pcl
 is its financial advisor and lead underwriter.

POLY Chief Executive Officer Kanchana Laowrattana said that the company is 
confident that being a SET-listed company will strengthen POLY to become a
leader in the industrial parts business focusing on innovations and providing
one-stop services to meet the needs of customer in all industries, while
searching and extending a new S-curve. The fundraising will therefore reinforce
the company's capital to be used to invest in factory expansion projects and
machinery to expand production capacity by 16.6 percent, which will sharpen the
company's long-term competitive advantage in a sustainable manner.

The company's dividend policy is to pay no less than 40 percent of net profit 
from the company's separate financial statements after corporate tax and all
types of reserves required by law and the company's regulations. However, such
dividend payment is subject to change based on the company's operating results,
investment plan, financial position, liquidity, business expansion plan, and
other matters as deemed appropriate, including the company's business management
 in the future.

After the IPO, the company's major shareholder is the Laowrattana group (73.3 
percent).
 
Investors and interested parties please see more details from the company's 
prospectus at the Securities and Exchange Commission's  website at
www.sec.or.th; and for general information, please visit www.polynet.co.th as
well as www.set.or.th.

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