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Big packaging “SCGP” Expect to list on the Thai stock market on the first day of this October, expect to hit the final trading price on October 8, attracting more than 18 “institutional investors” interested in signing contracts totaling of 676.53 million shares, about 60% of IPOs. 1,127.6 million shares open for retail investors to subscribe on October 1, 2 and 5. Preliminaries set the trading price range at 33.50-35.00 baht per share. The “Management” directs fundraising from 4.3 to 4.5 billion. Baht business expansion: reduce debt / equity ratio
Ms Vena Lertnimit, Chief Executive Vice President of Investment Banking Division, Siam Commercial Bank As financial advisor and underwriter and co-underwriter, revealed that SCG Packaging Public Company Limited or SCGP is an IPO to be listed on the Thai Stock Exchange (SET). Tor) within October 2020, which will determine the trading price on the last day of October 8, SCGP shares will be classified under the category of industrial products “packaging”, which will be offered. Sell no more than 1,296.68 million new shares, which will be divided into 1,127.55 million shares offered to the general public (IPO), representing 26.5% of the total issued and paid-up shares. The remaining 169.1 million shares will be sold above stocks (Green Shore).
For this share offering Get the attention of institutional investors 18 Cornerstone Investors signed a total of 676.53 million shares of the Cornerstone Placement Agreement, or approximately 60% of the initial public offering. Consisting of 14 national institutional investors for a total of 600 million shares, which are: 1. Bualuang Asset Management, 135 million shares 2. Kasikorn Asset Management, 135 million shares 3. SCB Asset Management, 81 million shares 4 MFC Asset Management (63 million shares) 5. TISCO Asset Management 42 million shares 6. Krung Thai Asset Management (37 million shares)
7. UOB Asset Management (Thailand), 26 million shares 8. Thanachart Asset Management, 25 million shares 9. Thai Life Insurance Plc. 13 million shares 10. Aberdeen Asset Management. Standard (Thailand) 11 million shares 11. Muang Thai Life Assurance PCL 8 million shares 12. Main asset management 8 million shares 13. Phatra Asset Management 8 million shares 14. One 8 million shares
The remaining four are foreign institutional investors, totaling 76.53 million shares, namely 1, Avanda Investment Management Pte Ltd, 27 million shares, 2.NTAsian Discovery Master Fund, 23 million shares, 3.Ghisallo Master Fund LP, 13,265 million shares, 4. Tydor Systematic Tactical Trading LP, 13,265 million shares
The remaining 15% goes to the shareholders of the company. Siam Cement Public Company Limited or SCC entitled to receive an allocation of 15% of the shares and the other 25% allocated to SCC’s SCGP sponsors and bondholders and dealers’ customers and all guarantees. 11 locations
However, for the initial offering price range for IPO shares, SCGP is set at 33.50-35.00 baht per share, where retail investors have to subscribe to 35.00 baht per share and if the final price trading is October 8, low. Above the price of 35 baht or there are people overflowing to subscribe, you will not be able to allocate the full amount. Such excess will be refunded to the subscriber after the sale is closed.
Specifying the subscription period for each type of subscriber as follows
1. SCC shareholders, SCGP shareholders, SCGP benefactors and SCC bondholders can subscribe between September 28 and October 2, 2020 (business days only). )
2. Small subscribers Able to subscribe on October 1, 2 and 5, 2020 with a minimum subscription of 1,000 shares worth 35,000 baht. The allocation method is small batch first. Until stocks run out
3. Person at the discretion of the insurer Can be booked from October 5 to 7, 2020.
For SCGP’s stock schedule, the Securities Offering Request Form is now approved by the Securities and Exchange Commission (SEC) and the SCGP filing will go into effect when on September 21, 2020 and this afternoon (23 of September) will be the IPO Roadshow and between September 28 and October 7, 2020 as the previous subscription period and October 8 will be the announcement of the final offer price and October 9 and 14 will be the reservation period for institutional investors. And it is expected to be registered for the first trading day within October of this
The two main underwriters and underwriters are securities firms. SCB and Bualuang Securities and nine other joint stock companies, namely 1. Kasikorn Securities Company 2. Krungthai Seamico Securities Company 3. DBS Vickers Securities (Thailand) 4. TISCO Securities 5. Thanachart Securities Company 6. Maybank Kim Eng Securities (Thailand ) 7. Finansia Syrus Securities 8. UOB Kay Hian Securities (Thailand) and 9. Yuanta Securities (Thailand)
Mr. Kunchet Tharachan, SCGP CFO, said that this fundraising will generate between 4.3 and 4.5 billion baht (including excess shares) with an amount of 27 billion baht or around 60 % to be used in Expansion of business growth However, the company has organic growth, having invested a total of 8.2 billion baht in the expansion of four additional productive projects in Thailand, Vietnam, Indonesia, the Philippines, to be completed in 2021, which will reflect future Business growth
Especially in terms of financial strength. It has a debt to equity (D / E) of 0.9x. Upon receiving funds from this fundraiser, some funds will be used to reduce the debt-to-equity ratio. So that the financial statements are strong to continue growing The company has a policy of paying a dividend of at least 20% of the net profit.
“We are the leader in packaging in the supply chain of the manufacturing and consumer sectors.”
Preliminary estimates of the market value (Market Cap) of approximately 1.4 billion baht have a high probability of being at SET50 from day one. Trade according to the rules of the stock market.
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