PSP Specialties plans IPO on Thai inventory exchange for growth increase

Thailand’s main lubricant producer, PSP Specialties Plc, is preparing for an preliminary public providing (IPO) to spice up its business growth. The firm plans to offer 350 million shares, roughly 25% of its whole shares, on the Stock Exchange of Thailand. The value per share is yet to be decided, with a roadshow in the works to promote the corporate.
CGS CIMB Securities (Thailand) is handling the underwriting course of for the listing. The CEO of PSP Specialties, Sint Krongphanich, said that part of the funds raised via the PSP Specialties IPO could be used to repay debt incurred following the acquisition of UC Marketing Co, a distributor and seller of uncooked materials and items. Additionally, funds shall be allocated to short-term debt payments and enhancing the company’s production efficiency.
PSP Specialties’ IPO remaining finances will serve as working capital. Mere ’s annual manufacturing capacity includes 212 million litres of lubricant, 27,500 tonnes of grease, forty four million litres of rubber course of oil, and 25 million litres of transformer oil. Located in Samut Sakhon province near the Tha Chin River, PSP Specialties also operates a manufacturing unit in the Thilawa Special Economic Zone on the outskirts of Myanmar’s capital, Yangon.
According to PSP Specialties IPO, more than 95% of its income stems from producing and selling raw supplies like lube oil and grease. The remaining 5% is generated from growing lube oil merchandise and providing logistics services. In the previous year, the corporate noted a 22% revenue improve, reaching 13.2 billion baht from 10.7 billion baht in 2021 and 6.9 billion baht in 2020. The first quarter of this yr noticed an extra zero.4% enhance in revenue, amounting to three.08 billion baht, stories Bangkok Post.
Sint Krongphanich talked about that the company goals to give attention to lube oil resolution providers and preserve its position as an original gear manufacturer. Rather than creating a new brand to market lube oil, PSP Specialties wants to keep away from competing with its present customers..

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