- Smothong Group pcl (SMO), producer and distributor of crude palm oil and related products as well as electricity from biogas, will start trading on SET in the Agro & Food industry group, on November 10, 2025.
- Funds raised will be invested in expanding crude palm oil businesses, ESG-related production process improvement projects, and will be used to repay loans from financial institutions and as working capital to support the company's future growth.
SET Senior Executive Vice President Soravis Krairiksh announced that Smothong Group pcl will be listed and start trading on The Stock Exchange of Thailand (SET) in the Agro & Food industry group, Agribusiness sector, under the ticker symbol "SMO" on November 10, 2025. The fundraising will be utilized to expand production capacity and integrate crude palm oil supply chain, strengthen ESG aspects and operational efficiency, while enhancing connections with farmer networks leading towards Thai palm oil industry's sustainable growth.
SMO is a producer and distributor of crude palm oil (CPO) and by-products, including biogas fuel, based on the circular economy philosophy, starting from raw material selection, standardized production management to achieve high outputs, while converting the by-products into energy. Currently, SMO operates four factories in three strategic provinces namely Surat Thani, Chumphon, and Saraburi, with a combined extraction capacity of 240 tons of fresh palm fruit per hour, and a combined power generation capacity of 14.38 megawatts (MW) under a 12.7-MW Power Purchase Agreement (PPA). SMO has multi-sales channels both domestically and internationally and has become one of the country's leading CPO producers.
SMO Chief Executive Officer Kittipong Puangmala stated that the listing on SET is a significant step in developing business and enhancing the company's growth potential. The company has extensive experience and expertise in the palm oil industry, considered one of the country's leading crude palm oil producers, consequently contributing to national food and energy security. The fundraising will enable SMO to strengthen the financial position, expand the business, and enhance the competitive capabilities. The company is committed to creating quality products, caring for communities and stakeholders, while embracing good governance and building sustainable environment inclusively.
Securities offering data: SMO has a paid-up capital of THB 920 million (approximately USD 28.37 million) after the IPO, with a par value of THB 1.00 per share. For the first time, the company offered 231.6 million newly issued ordinary shares to subscribers at the underwriters' discretion, including the company's patrons, directors, executives, and employees, as well as the company's related persons, during October 31 and November 3-4, 2025 at THB 5.40 per share. This offering generates a total fundraising value from the newly issued ordinary shares of THB 1,250.64 million, with an IPO market capitalization of THB 4,968 million. The IPO valuation reflects the price-to-earnings (P/E) ratio of 7.60 times with the earnings per share of THB 0.71, calculated from the company's trailing four-quarter net profit (from July 1, 2024 to June 30, 2025, divided by fully diluted shares. Asset Pro Management Company Limited is the financial advisor and Finansia Syrus Securities pcl is the lead underwriter.
Major shareholders after the IPO: 1) the Puangmala family group (20.46 percent); 2) the Piriyetyanggoon family (20.16 percent); and 3) the Lim family group (17.75% percent). The company's dividend payment policy is to pay shareholders no less than 50 percent of net profit after all types of legally mandated reserves, taking into consideration the consolidated financial statements.
Investors and interested public can view the company's prospectus via the Securities and Exchange Commission (SEC)'s website at www.sec.or.th, and general information via www.smothonggroup.com and www.set.or.th.