Bangkok--16 Oct--SET
The Stock Exchange of Thailand (SET) will list Osotspa pcl, a leading consumer goods manufacturer and distributor in Thailand and ASEAN, on October 17, under the ticker symbol "OSP". The company has a market capitalization at its initial public offering (IPO) of THB 75.09 billion (approx. USD 2.3 billion).
SET Senior Executive Vice President Manpong Senanarong said that OSP would list and start trading on SET in the Agro & Food Industry group, Foods & Beverage sector.
OSP, the consumer products manufacturer and distributor, has two core businesses, one comprising beverages under the brands: M-150, M-Storm, Lipovitan-D, Chalarm, Shark Cool Bite and Som In-Sum, M-Electrolyte, M-Presso and Peptein; and the other comprising personal care products including baby care products under "Babi Mild" brand, women's beauty care products under "Twelve Plus" brand, among other products covering such confectionery brands as Ole and Botan. The company also provides supply chain management services in packaging and distribution to third parties.
OSP has a registered paid-up capital of THB 3.00 billion with a par value of THB 1 each. It allocated 603.75 million IPO shares, of which 506.75 million were newly issued shares and the remainders were existing common shares offered by Orizon Limited and by Y Investment Ltd at 67 million and 30 million shares, respectively, through underwriters, the company's patrons, directors, and employees during October 1-4, and domestic and foreign institutional investors during October 8-10, at THB 25 each, for a total of THB 12.67 billion. Bualuang Securities pcl and Phatra Securities pcl are its financial advisor and lead underwriter.
OSP President Wannipa Bhakdibutr said that listing on SET would reinforce the company's potential in operating business to serve its large-scale business expansion plan in ASEAN, which marks a milestone for the company to deliver business growth and retain top position in non-alcohol beverages and personal care products markets in the region. With its 127-year-old business operation, OSP has a diverse range of brand leaders widely recognized by consumers. This strength will enhance the company to move towards sustainable growth.
OSP's three major shareholders after the IPO are Niti Osathanugrah (20.78 percent), Orizon Limited (17.88 percent) and Merrill Lynch Singapore Pte.Ltd (7.04 percent). The IPO price was set by a book building equivalent to price-to-earnings (P/E) ratio of 29.51 times calculated by using the company's net profit in the past four quarters (third quarter of 2017 - second quarter of 2018), divided by fully diluted shares, representing earnings per share of THB 0.85. OSP's dividend policy is to pay no less than 60 percent of net profit from the company's consolidated financial statements after legal and other reserves.
For more information, 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.osotspa.com , as well as www.set.or.th.