SET welcomes prestressed concrete manufacturer and distributor "STECH" on Jul 23

Stocks News Thursday July 22, 2021 10:11 —PRESS RELEASE LOCAL

SET welcomes prestressed concrete manufacturer and distributor

The Stock Exchange of Thailand (SET) will list Siam Technic Concrete pcl, a manufacturer and distributor of prestressed concrete products, product logistics and piling services provider, on July 23, under the ticker symbol "STECH". The company has a market capitalization at its initial public offering (IPO) of THB 2.02 billion (Approx USD 61.93 million).

SET Senior Executive Vice President Manpong Senanarong said that STECH would list and start trading on SET in the Property & Construction industry group, Construction Materials sector.

STECH manufactures and distributes prestressed concrete products under "STEC" brand, consisting of prestressed concrete piles, prestressed concrete electric poles and pole assembly products, girders and plank girders, and PC spun piles catering to customers in the public and private sectors, while providing one-stop services related to the company's products such as the product transportation and piling services. In addition, STECH is capable of being construction contractor pertinent to the core business, gaining a proven track record in installing 115kV electric power transmission and fiber optic cable.

STECH has a registered paid-up capital of THB 725 million, consisting of 521.5 million existing common shares and 203.5 million newly issued shares, with a par value of THB 1.0 each. It offered newly issued shares to the general public during July 13 - 16 at THB 2.78 each, for a total of THB 565.73 million. The IPO price was determined based on price-to-earnings ratio (P/E ratio) at 14.14 times, calculated from the company's financial performance in the past 12 months divided by fully diluted shares. Jay Capital Advisory Company Limited is the financial advisor and KTBST Securities pcl is the lead underwriter.

STECH Chief Executive Officer Watchai Mongkolsrisawad said that being listed on SET is a key milestone that will help enhance the company's competitiveness, increase growth opportunity, and strengthen the capital position. The IPO fundraising will be used to invest in the construction of two new factories to expand prestressed concrete business and raise production capacity of the existing factories, to underscore the company's strength in different plant locations across several regions. Moreover, some of the proceeds will be used for debt repayment to financial institutions, and as working capital.

STECH's dividend policy is to pay no less than 40 percent of net profit after corporate income tax from the company's separate financial statement and legal reserves. However, such dividend payout is subject to change, depending on the company's performance, financial position, liquidity, business expansion plan, necessity and suitability in the future, and other factors related to business management as the company's board deems suitable or appropriate.

STECH's major shareholders after the IPO are Ruam Chai Kij Company Limited
(49.24 percent), Mongkolsrisawad family (10.11 percent), and Wongthananun family (3.89 percent).

For more information on STECH, 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.stec.co.th as well as www.set.or.th.

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