SET Senior Executive Vice President Manpong Senanarong said that SFLEX would list and start trading on SET in Industrials industry group, Packaging sector.
SFLEX produces and distributes made-to-order flexible packaging for consumer products, while providing research and development for flexible film solutions to broaden alternatives and cater to customers' diverse needs. The company's major clients are the country's leading consumer product manufacturers such as Unilever Thai Holdings Co., Ltd., and Lion (Thailand) Co., Ltd. SFLEX's total sales revenue derives from non-food packaging products at the proportion of 85 percent while the rest of 15 percent derives from food packaging products.
As of June 30, 2019, SFLEX had a registered paid-up capital of THB 300 million with a par value of THB 1 each. Its registered paid-up capital wasraised to THB 410 million after it allocated 110 million newly issued shares to general public through IPO at THB 3.88 each, for a total of THB 426.8 million. Finansia Syrus Securities pcl serves as financial advisor and underwriter.
SFLEX President Printhorn Apithanasriwong said that listing on SET will provide opportunity for business expansion of SFLEX's flexible packaging. The fund raised will be utilized to invest in a sealant film manufacturing project for flexible packaging production, build a warehouse to replace rental warehouse, repay loans from financial institutions, and as working capital.
SFLEX's three major shareholders after IPO are Printhorn Apithanasriwong (49.76 percent), Ek Picharnchitra (10.98 percent), and Kotchakorn Wanichanuwat (6.59 percent).
SFLEX's dividend policy is to pay no less than 40 percent of net profit from its separate financial statements after corporate income tax, and reserves stipulated by law and SFLEX's policy each year. However, the company's dividend payout may be different from this policy subject to the company's performance, financial position, liquidity, working capital utilization, investment and business expansion plan, as well as economic circumstances.
For more information on SFLEX, 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.starflex.co.th and www.set.or.th.