SET welcomes end-to-end lubricant solution provider "PSP" on August 30

The Stock Exchange of Thailand (SET) will list P.S.P Specialties pcl (PSP), a one-stop lubricant solution provider, - on August 30 under ticker symbol "PSP". The company has a market capitalization at its initial public offering (IPO) of THB 8.68 billion (approx. USD 247.15 million).

SET Senior Executive Vice President Manpong Senanarong said that PSP will be listed and start trading on SET in Industrial Materials & Machinery sector, the Industrials industry group.

PSP manufactures and distributes lubricant products to customers who are leaders in various industries both domestically and internationally. The company provides end-to-end services, starting from product development, raw material procurement, product design, manufacturing, packing, to storage and distribution including logistics, and other related businesses. PSP develops and manufactures specialty products including rubber process oil, and transformer oil; provides terminalling center; and distributes Chevron Oronite's additives in Thailand, Cambodia, and Laos. Additionally, PSP is Thailand's sole and exclusive distributor of Authentix's products .

PSP has a paid-up capital of THB 1.40 billion after the IPO, consisting of 1.05 billion existing ordinary shares and 350 million newly issued shares, with a par value of THB 1.00 each. Up to 350 million IPO shares were allotted to persons at underwriters' discretion, the company's patrons, and board of directors, executives and employees of the company and its subsidiaries during August 22-24 at THB 6.2 each for a total of THB 2.17 billion in fund raised. Bualuang Securities pcl is the financial advisor, CGS-CIMB (Thailand) pcl and Kasikorn Securities pcl are the joint lead underwriters.

PSP Chief Executive Officer Sint Krongphanich said that in addition to being a one-stop leader in independent manufacturer of lubricants and specialty products trusted by leading customers in a variety of industries, both locally and globally, PSP centers on continuous research and development. The process starts from studying and understanding the needs of customers, formula development, qualification test, research and development of new complicated products that can meet the needs of various applications of customers to keep up with technological advancements which is an important factor in maintaining the company's competitiveness. and create sustainable growth. The company's key strategies are as follows:

Emphasis on leadership by focusing on and increasing the proportion of sales of high-margin and high-growth products, and raising the proportion of income from overseas sales as well as the development and improvement of various facilities. This strategy is aimed to increase production efficiency, reduce costs, and support future growth.

Increasing the variety of product groups such as lubricants for the food industry (Food Grade Lubricant), multi-purpose oil (Multipurpose Oil), products used in electric vehicles (EV), as well as Bio Transformer Oil products.

Business expansion through investment in those related to existing businesses to cover throughout the supply chain (Value Chain), those related to logistics, and those related to sustainable solution, including future industrial businesses focusing on the use of Technology and Innovation (New S-Curve).

Proceeds from the fundraising will be used to improve production process efficiency to sustain growth, repay financial institutions' loans and as the company's working capital.

PSP's major shareholders after the IPO are 1) the Krongphanich family group (41.7 percent - direct and indirect holding), 2) the Tingthanathikul family (9.9 percent); and 3) Permsak Kosolbhand (7 percent).

The company's dividend policy is to pay at least 35 percent of net profit from separate financial statements after corporate income tax and reserves required by laws and the company's articles of association. However, the dividend payment is subject to the company's performance, financial liquidity, need of working capital for business management, future business expansion plan, and economic circumstance.

For more information on PSP, 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.psp.co.th and www.set.or.th.