mai welcomes prestressed concrete producer and contractor SK on October 8

Stocks and Financial Services Press Releases Wednesday October 7, 2020 17:22
Bangkok--7 Oct--SET Corporate Communications

Sirakorn pcl, a manufacturer of prestressed concrete products and construction service provider, will be listed on Market for Alternative Investment (mai) on October 8, under the ticker symbol “SK”. The company has a market capitalization at its initial public offering (IPO) of THB 368 million (approx. USD 11.6 million).

mai President Prapan Charoenprawatt said that SK would list and start trading on mai in Property and Construction industry group. SK and its subsidiaries manufacture and distribute prestressed concrete products including electric pole, pile. stanchion, foundation, bridge slabs, etc. Six manufacturing plants are located in strategic locations covering all regions across the country including Chainat, Kalasin, Lampang, Chonburi, Surat Thani and Songkhla provinces, with efficient distribution network nationwide. In addition, SK and two of its 99.99 percent-owned units, 4A Concrete Co., Ltd. and Sirikamol Construction Co., Ltd., provide power transmission line construction and civil works services. During the first six months of 2020, 51 percent of its revenue was generated from sales while the remaining 49 percent was from construction projects. The customer portfolio ratio of government and private sectors is 75:25.

SK has a paid-up registered capital of THB 230 million, consisting of 344.65 million existing common shares and 115.35 million newly issued shares, with a par value of THB 0.50 each. It offered the entire newly issued shares to general public during September 28 - 30, 2020 at THB 0.80 each, for a total of THB 92.28 million. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 8 times, calculated by using the company's net profit in the past 12 months (July 1, 2019 – June 30, 2020) of THB 45.93 million, divided by fully diluted shares, representing earnings per share of THB 0.10. Capital One Partners Co., Ltd. is its financial advisor while Globlex Securities Co., Ltd., and Country Group Securities pcl are lead underwriters.

SK Managing Director Kovit Hunhirun said with over 30 years of experience in prestressed concrete product manufacturing and distribution, and over 20 years of expertise in power line construction business, the company is well equipped with unparalleled engineering experts. With plant locations strategically covering distribution area nationwide, the company is cost-effective in logistics front. This listing on the bourse will help strengthen the capital base to be allocated for investments in machine, equipment, logistics trucks, and as working capital to support construction business expansion.

SK's three major shareholders after IPO are Tangnukulkij family (30.20 percent), Kittiworaphat family (8.02 percent) and Poomsanoh family (7.23 percent). The company's dividend policy is to pay no less than 50 percent of net profit after corporate income tax from the company's separated financial statement, and legal reserves.

For more information on SK, please see the company's prospectus at the Securities and Exchange Commission's website at ; and for general information, please visit as well as .

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