mai welcomes construction consulting and management firm STI on December 19

Stocks and Financial Services Press Releases Tuesday December 18, 2018 17:57
Bangkok--18 Dec--SET

Market for Alternative Investment (mai) will list Stonehenge Inter pcl, a large construction consulting and management firm, on November19, under the ticker symbol "STI". The company has a market capitalization at its initial public offering (IPO) of THB 1.69 billion (approx. USD 51.15 million).

mai President Prapan Charoenprawatt said that STI would list and start trading on mai in Property & Construction Industry Group.

STI provides consulting, management and supervisor service for construction projects focusing on residential real estate inclusive of high-rise and low-rise office buildings, department stores hotels, and many more. Its past projects included EmQuartier department store, Terminal 21 mall (in Nakhon Ratchasima), Pearl Bangkok office building, Empire Tower (renovation project), and Bluport Resort Mall (in Hua-Hin).

In addition, Stonehenge Co., Ltd., a subsidiary owned by STI, is also a well-known architecture and engineering design and interior design, as well as conservation of historical buildings such as the 100 Year Building of Somdet Phra Nyanasamvara - Supreme Patriarch at Bowonniwet Vihara Temple, Maliwan Palace, and Wangburapa Underground station (Blue line) , among others.

STI has a registered paid-up capital of THB 134 million, consisting of 200 million existing common shares and 68 million newly issued shares, with a par value of THB 0.50 each. It offered the newly issued shares to general public via IPO, categorized into: 51 million shares to investors through underwriters, no less than 10.20 million newly issued shares to patrons of the company, no less than 6.80 million shares to directors, executives and employees of the company & subsidiaries, during December 6-7 and 11, 2018 at THB 6.30 each, for a total of THB 428 million. Jay Capital Advisory Limited is its financial advisor, while KTB Securities (Thailand) pcl is its lead underwriter.

STI Chief Executive Officer Somkiat Silawatanawong said that the company focuses on the best standard and quality to match the client's budget and timeline requirements. STI has constantly adopted information technology systems and innovations related to construction project management to enhance efficiency. The company is committed to developing employees' skills though training, while developing specific computer program to support construction consulting and management services. The fund raised would be used for building new training and development center, investing in information technology and new computer systems and programs for design, work control and financial and accounting, as well as working capital.

STI's three major shareholders after IPO are Univentures Capital Company Limited (26.12 percent), Silawatanawong's Group (15.07 percent), and Peumpremsuk's Group (11.19 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 29.76 times, calculated by using the company's net profit in the past 12 months (October 1, 2017 - September 30, 2018) amounting to THB 56.73 million, divided by fully diluted shares, representing earnings per share of THB 0.21. STI's dividend policy is to pay no less than 50 percent of net profit from the company's financial statement after corporate income tax and legal reserves.


Latest Press Release

Echoworx expands EU reach with new German data centre

Echoworx is pleased to announce the opening of their new data centre in Germany. This move further entrenches Echoworx's presence and competitive edge within the EU region. Known for its proven manufacturing industries, from automotive to...

EXIM Thailand Holds FX Risk Management Seminar Phase 2 to Promote the Use of FX Risk Hedging Tools for SME exporters

Mr. Chana Boonyachai (right), Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently welcomed Mrs. Varintorn Chaivivat (left), Vice-Director, Northern Region Office, Bank of Thailand and Mr. Kobsak Duangdee (center),...

Photo Release: Prudential Thailand organizes Agency Kick Off 2019

Mr. Aman Chowla (7th from right), Chief Executive Officer, Prudential Life Assurance together with Mr. Wichai Cheewasrirungruang (6th from left), Chief Agency Officer, Prudential Life Assurance and the executive management of Prudential Life Assurance...

Photo Release: Bangkok Bank welcomes R3 members to the first Voltron project workshop in Thailand

Bangkok Bank Executive Vice Presidents Pornnit Dunnvatanachit , Kukkong Ruckphaopunt and Senior Vice President and Trade Finance Center Manager Kajohnsak Manaviriyakul welcomed R3 members who joined a Voltron project workshop, the first to be held in...

ZEN Corporation Group Plc. to sell 75 million IPO shares after SEC approved Filing Count 1 Highlights food service business Raises fund for branch expansion and restaurant improvements

'ZEN Corporation Group Plc.' or ZEN is preparing to make its Initial Public Offering (IPO) of 75 million shares after the Securities and Exchange Commission (SEC) approved its Filing Count 1. The group is highlighting its food service business which...

Related Topics