§ The offering price is 9.00 THB per share
§ Public roadshows in Chiang Mai, Khon Kaen, Hat Yai and Chonburi are set on 12, 13, 16 and 17 November 2015 respectively
Star Petroleum Refining Public Company Limited (SPRC), one of the leading producers of petroleum products in Thailand, today announced a plan to make an initial public offering (IPO) of up to 1,735,315,500 shares. This will be the largest offering by market capitalization in the Thai energy sector over the past 9 years. The offering includes 345,018,900 newly issued ordinary shares, 1,390,296,600 existing shares offered by PTT PCL. In addition, there will be up to 173,531,400 to be sold under the overallotment option shares.
Mr. William Lewis Stone, Chief Executive Officer of Star Petroleum Refining Public Company Limited (SPRC), said that "the IPO will provide opportunities for Thai people to become shareholders in one of the leading petroleum companies in Thailand. With our One Family culture providing industry leading safety, reliability, and utilization, along with our strong financial performance, we believe being part of the SPRC family is an investment opportunity with a strong foundation to build shareholder value."
SPRC is one of the leading refineries in Thailand with a production capacity of 165,000 bpd, accounting for approximately 13% of total capacity in Thailand. SPRC's unique configuration allows the company to supply almost one-third of Thailand's gasoline demand. Subscription details for Brokerage Retail Investor: Brokerage Retail subscribers will subscribe at 9.00 THB per share. The IPO shares will be allocated at the sole discretion of the Joint Lead Underwriters or co-underwriters. Joint Lead Underwriters are Bualuang Securities PCL, Finansa Securities Ltd., Phatra Securities PCL and SCB Securities Co., Ltd.
Subscription details for General Retail Investors: General Retail subscribers will subscribe at 9.00 THB per share. IPO shares will be allocated using the random allocation method by which the subscribers will be randomly selected for allocation of shares by a computer program of Settrade.com Company Limited, a subsidiary of the Stock Exchange of Thailand (SET). The list of subscribers who are allocated shares will be announced on www.settrade.com and websites of the selling agents by 12:00 a.m. on 1 December 2015.
Interested persons may obtain the prospectus and subscription forms as well as submit their subscription form and supporting documents at branches of the four appointed selling agents: Bangkok Bank PCL, Krung Thai Bank PCL, KASIKORNBANK PCL and Siam Commercial Bank PCL.
It is expected that SPRC shares will commence trading on the SET around the second week of December 2015. The stock will be listed in the Energy & Utilities sector under the symbol 'SPRC'.
SPRC's key competitive advantages
· Highly experienced management team and effective staff - The company's management team are highly experienced in the energy industry and our staff are dedicated, effective and motivated to maintain SPRC's operational excellence.
· Operational Excellence leading to business growth - SPRC's 'One Family' culture creates superior operational excellence, characterized by industry leading safety, reliability and utilization. This allows our family to focus on optimizing our facility and develop opportunities to build superior financial returns.
· Reliable and flexible refinery resulting in lower operating costs and strong financial performance - ranked in the top of the first quartile among over 90 refineries in the Asia-Pacific and Indian Ocean region for effective utilization and availability, which allows the company to maintain low operating costs.
· Strategic location facilitating future business growth - located in the Map Ta Phut Industrial Estate with easy access to a deep-sea port, road networks,
multi-product pipeline and key transportation linkages to customers.
· Long-standing relationships with reputable customers in Thailand and abroad -Chevron and PTT offtake about 90% of SPRC's products through a long-running product offtake agreement, with the remaining 10% distributed through
well-established major local and regional petrochemical companies.
· Strong relationship with Chevron as the major shareholder - ensuring global access to competitively priced crude oil and feedstocks, market access for products as well as operational and technology know-how.
· Fiscal Discipline and Low Gearing and Commitment to Grow our Business by Investing with Discipline - having low debt allows SPRC to easily weather short term margin fluctuations as well as the ability to fund selective, high-return projects in the future.
Roadshow
Prior to the commencement of the share subscriptions, SPRC will hold roadshows to provide information about the IPO scheme to the public in:
· Chiang Mai: on 12 November 2015 at Le Meridien Chiang Mai Hotel, 11:30 – 14:00 hrs
· Khon Kaen on 13 November 2015 at Pullman Khon Kaen Raja Orchid Hotel, 11:30 – 14:00 hrs
· Hat Yai on 16 November 2015 at Lee Gardens Plaza Hotel, 11:30 – 14:00 hrs
· Chonburi: on 17 November 2015 at The Tide Resort, 11:30 – 14:00 hrs
Disclaimer
· Investment in securities involves certain risks. Investor should study information in the prospectus before making a decision on investment.
· The offer may be made only when the registration statement and the draft prospectus filed with the Office of the Securities and Exchange Commission (SEC Office) have become effective, and will be made by delivery or distribution of prospectus to investors.
· Any person may access or obtain a copy of the registration statement and the draft prospectus at the Capital Market Information Center, the Office of the Securities and Exchange Commission (SEC Office), 333/3 Vibhavadi-Rangsit Road, Chompon, Chatuchak, Bangkok, on every business day of the SEC Office or at http://www.sec.or.th.
· This announcement is not an offer of securities for sale in the United States. Securities may not be sold in the United States unless they are registered or are exempt from registration under the U.S. Securities Act of 1993, as amended. SPRC does not intend to register any portion of the offering in the United States or to conduct a public offering of any securities in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about SPRC and its management, as well as financial statements. Copies of this announcement are not being, and should not be distributed in or sent into the United States.
· It may be unlawful to distribute these materials in certain jurisdictions. These materials are not for distribution, directly or indirectly, in the United States, Canada, Japan, and Australia. The information in these materials does not constitute an offer of securities for sale in the United States, Canada or Japan or Australia.