SET Senior Executive Vice President Manpong Senanarong said that OR would list and start trading on SET in Resources industry group, Energy & Utilities sector.
OR is PTT Group's flagship company in operating oil and retail business locally and internationally, making a mark as leader in both retail and commercial market for fuel, liquified petroleum gas and lubricants in Thailand. With integrated business model and management, the company has fulfilled customer's with value added for all groups of stakeholders in a balanced and sustainable manner. The company has operated through over 1,900 PTT's stations across the country (as of September 30, 2020), gaining 38.9 percent of market share in terms of retail fuel sales volume in Thailand (according to the data collected by Wood Mackenzie as of December 31, 2019). In addition, OR also has operated Cafe Amazon, Thailand's largest coffeehouse chain by number of branches, with over 3,100 branches nationwide (as of September 30, 2020). Cafe Amazon is considered the world's sixth largest coffee cafe chain by number of branches (as of December 2019 by Euromonitor). The company has an exclusive license to operate Texas Chicken brand in Thailand, and master franchise right to operate food business of Hua Seng Hong Dim Sum brand. Moreover, the company has also secured a number of strategic partnerships with leading global and local brands.
On the day of the trading debut, OR's registered paid-up capital will be THB 116.1 billion with a par value of THB 10.00 each. It offered 2.61 billion newly issued shares to general public at THB 18 each, for a total of THB 46.98 billion (excluding the over-allotment). Bualuang Securities pcl, Finansa Securities Co., Ltd., Kasikorn Securities pcl, Kiatnakin Phatra Securities pcl, and Tisco Securities Co., Ltd. are the five financial advisors and lead underwriters.
OR President & Chief Executive Officer Jiraphon Kawswat said that listing on SET will strengthen OR's positioning to be a market leader and enhance the company to operate business in line with the OR's vision, to be Thailand's leading global brand that creates values to communities through oil, retail and related businesses. The fundraising will be used to expand gas station network, penetrate further into commercial market business, invest in petroleum depot and distribution center, grow entire retail network, as well as investing in overseas business and new S-Curve business. This move is to ensure the company's resiliency to the ever-changing business environment. In addition, the company plans to leverage its success and expertise at regional and global levels.
OR's major shareholder after the IPO is PTT pcl and the shareholding ratio will not lower than 75 percent of the paid-up capital after the share allocation upon the return of the borrowed shares. The company's dividend policy is to pay no less than 30 percent of net profit after legal and other reserves as specified by the company. However, the dividend payment must not exceed OR's accumulated net profit.
For more information on OR, 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.pttor.com and www.set.or.th
Source: The Stock Exchange of Thailand