Bangkok 28 Aug-P.S.P. Specialties or PSP, one of the leading integrated lubricants in the ASEAN region. Preparing to list shares on the Stock Exchange of Thailand (SET) for the first time on August 30 after investors received a good response to buying IPO shares, moving forward to create innovative lubricant products with high profit margins and growth. Supporting industry megatrends and aiming to expand overseas markets, hoping to increase the proportion to 25% of total sales revenue by the year 2026
Mr. Sin Krongpanich, Chief Executive Officer of PSP Specialties Public Company Limited (“PSP” or “Company”) revealed that the Company is ready to trade shares on the Stock Exchange of Thailand as The first day on August 30, using the stock symbol 'PSP' in trading securities in the industrial product group. Industrial materials and machinery After the successful offering of not more than 350 million shares of the IPO at the offering price of 6.20 baht per share
By the year 2021, providing services that cover the supply chain of the lubricant manufacturing industry. and R&D know-how with state-of-the-art laboratories to develop innovative products with high margins and growth. To support the megatrends of the growing industry and to focus on environmental stewardship, PSP is in the process of studying and researching products. Gear oil and grease for electric vehicles (EV), coolants for electric vehicles (EV Cooling), lubricants (Lubricant) or grease (Grease) for electric cars. and Bio Transformer Oil, as well as the development of lubricants for the food industry (Food Grade), with a goal to increase the revenue proportion to 25% of total sales revenue by 2026.
However, other than the specified shareholders who bring shares in an amount equivalent to 55.0 percent of the total shares after the IPO are prohibited from selling according to the SET's regulations. from the date on which the Company's shares Started trading on the stock market to build confidence for investors. The Company's existing shareholders In addition, the Company voluntarily refused to sell its shares and signed the Share Transfer Restriction Agreement for Shareholders (Lock-up Agreement) in addition to the shares prohibited from being sold according to the SET's regulations for a period of 6 months from the date on which the Company's shares 177,100,000 shares were traded on the SET, representing 12.65 percent of the total shares after the IPO.
In addition, the group of buyers who bought shares from the Tingthanathikul family as of the date on which the Company's shares traded securities on the stock market for the first day, agreed not to sell the shares held and signed a share transfer restriction agreement for shareholders (Lock-up Agreement) for a period of 1 month from the date of trading on the SET in the amount of 102,900,000 shares, representing 7.35 percent of the total number of shares.-Thai News Agency
Source: Thai News Agency