Sriracha Construction to start trading on SET
Thailand’s Sriracha Construction Plc (SCC), an engineering contractor firm specialising in piping fabrication, mechanical equipment installation and structural steel construction, will start trading its shares on the Stock Exchange of Thailand on July 2, market analysts in Thailand said.
The company has set the share price to 15 baht. SCC has a registered capital of 310 million baht, with 225 million baht full-paid capital, and plans to sell 78.25 million new shares at the IPO, thus raising a capital of 1.17 billion baht, says Boonkrua Khemapirat, Sriracha Construction’s Managing Director
The lead underwriter of the company is Kasikorn Securities.
SCC is one of the leading construction firms in Thailand, mainly engaged in the mining, oil & gas and power industries. Current activities include a large-scale nickel mining project in Madagascar at an investment of 7.5 billion baht, reportedly one of the largest in the world, and refining projects for Thaioil, Exxon Mobil and Qatar Petroleum.
All in all, SCC has completed over 50 projects for customers such as Esso Thailand, Bayer Group, Indorama Group and Thai Beverage, Khemapirat added.
In 2011, SCC reported a revenue of 2.89 billion baht and a net profit of 1.12 billion baht, indicating a high 42.5 per cent net profit margin.
“In the past three years, the company has achieved a cumulative annual growth rate of 22.5 per cent. Its gross profit margin and net profit margin are probably the highest among Thai contractor companies,” said Chatmongkol Khemapirat, SCC’s Assistant Managing Director.
“With strong positive cash flow from operation, the company has a dividend payout policy of more than 50 per cent from its net profits,”” he added.
The proceeds of the IPO will be mainly used for capacity expansion, the company said.
[caption id="attachment_3504" align="alignleft" width="202" caption="Boonkrua Khemapirat, Managing Director of Sriracha Construction Plc"][/caption] Thailand's Sriracha Construction Plc (SCC), an engineering contractor firm specialising in piping fabrication, mechanical equipment installation and structural steel construction, will start trading its shares on the Stock Exchange of Thailand on July 2, market analysts in Thailand said. The company has set the share price to 15 baht. SCC has a registered capital of 310 million baht, with 225 million baht full-paid capital, and plans to sell 78.25 million new shares at the IPO, thus raising a capital of 1.17 billion baht, says Boonkrua Khemapirat, Sriracha Construction's...
Thailand’s Sriracha Construction Plc (SCC), an engineering contractor firm specialising in piping fabrication, mechanical equipment installation and structural steel construction, will start trading its shares on the Stock Exchange of Thailand on July 2, market analysts in Thailand said.
The company has set the share price to 15 baht. SCC has a registered capital of 310 million baht, with 225 million baht full-paid capital, and plans to sell 78.25 million new shares at the IPO, thus raising a capital of 1.17 billion baht, says Boonkrua Khemapirat, Sriracha Construction’s Managing Director
The lead underwriter of the company is Kasikorn Securities.
SCC is one of the leading construction firms in Thailand, mainly engaged in the mining, oil & gas and power industries. Current activities include a large-scale nickel mining project in Madagascar at an investment of 7.5 billion baht, reportedly one of the largest in the world, and refining projects for Thaioil, Exxon Mobil and Qatar Petroleum.
All in all, SCC has completed over 50 projects for customers such as Esso Thailand, Bayer Group, Indorama Group and Thai Beverage, Khemapirat added.
In 2011, SCC reported a revenue of 2.89 billion baht and a net profit of 1.12 billion baht, indicating a high 42.5 per cent net profit margin.
“In the past three years, the company has achieved a cumulative annual growth rate of 22.5 per cent. Its gross profit margin and net profit margin are probably the highest among Thai contractor companies,” said Chatmongkol Khemapirat, SCC’s Assistant Managing Director.
“With strong positive cash flow from operation, the company has a dividend payout policy of more than 50 per cent from its net profits,”” he added.
The proceeds of the IPO will be mainly used for capacity expansion, the company said.
