Bangkok--24 Jun--SET
The Stock Exchange of Thailand (SET) welcomes Sappe pcl, manufacturer and distributor of beverage for health and beauty under the brand “SAPPE,” on its main board on June 25, under the ticker symbol “SAPPE.”
SET Executive Vice President Chanitr Charnchainarong said that Sappe will be listed on SET's Food and Beverage sector, with a market capitalization at the initial public offering (IPO) price of THB 4.05 billion (approx. USD 125 million).
Sappe produces and distributes drinks for health and beauty as well as juice and coffee namely Sappe Beauti Drink, Sappe Beauti Shot, Sappe for one day (concentrated juice), Mogu Mogu (fruit juice with coconut jelly), and weight loss coffee), etc, distributed in domestic and overseas markets through agents to more than 50 countries worldwide, minaly in Asia, Europe, United States, and Middle East. The products are also sold through its two overseas subsidiaries, which are Sappe Indo and Sappe Europe.
It has a paid-up registered capital of THB 300 million, consisting of 225 million existing shares and 75 million newly-issued shares, with a par value of THB 1.00 each. The company offered the new shares through an IPO during June 18-20 at THB 13.50 per share – total issue size is THB 1.01 billion. Advisory Plus Co., Ltd. is the company’s financial advisor, while Kasikorn Securities pcl is the lead underwriter.
Sappe CEO Adisak Ruckariyapong said that listing on SET would strengthen the company’s financial status, enabling production capacity expansion of PET bottle filling machine to cover expansion into the overseas markets. It would also be instrumental in the new product development to meet increasing healthy consumer lifestyle. Furthermore, the company also aimed to boost its proprietary Thai brands to grow strongly in the global market.
Sappe's three major shareholders after the IPO are Ruckariyapong family (75 percent), Mr.Wiset Wachirapong (2 percent) and Mr.Panya Puchai (0.7 percent). The IPO price had a price-to-earnings ratio (P/E) of 15.9 times, calculated by using the four latest quarterly net profits (from Q2/2013 to Q1/2014), divided by the number of fully-diluted shares, representing earnings per share of THB 0.85. The average P/E of similar listed companies for three-month period from 28 Feb – 30 May is 27.50. Sappe's dividend payment policy is no less than 40 percent of net profit after corporate tax and reserves.
For more information on Sappe, please find the company's prospectus on the Securities and Exchange Commission's website at www.sec.or.th and general information on the company's website at www.sappe.com and www.set.or.th .