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SET - The Stock Exchange of Thailand

10/04/2021 | Press release | Distributed by Public on 10/04/2021 00:13

SET News :SET welcomes a vending machine retailing operator 'SVT' on Oct 5

SET News 75/2021 October 4, 2021 SET welcomes a vending machine retailing operator "SVT" on Oct 5 BANGKOK, October 4, 2021 - The Stock Exchange of Thailand (SET) will list Sun Vending Technology pcl, a vending machine retailing operator, on October 5, under the ticker symbol "SVT". The company has a market capitalization at its initial public offering (IPO) of THB 1.78 billion (approx. USD 52.51). SET Senior Executive Vice President Manpong Senanarong said that SVT would list and start trading on SET in the Services industry group, Commerce sector. SVT is the leading automatic merchandising machine operator under a trademark of "SUNVENDING" that sells soft drinks, snacks and bakery, instant noodles, and other consumer goods via vending machines. SVT currently operates 13,884 vending machines across 26 provinces nationwide. Approximately 70 percent of its vending machines are located in industrial factories, mainly in Rayong, Chonburi, and Ayudhaya provinces. Furthermore, SVT has been offering advertising spaces on the vending machines as a value-added business model. With its own factory providing vending machine assembly and refurbish services, the company is advantageous to manage operational costs more efficiently and offer a competitive price of the customized vending machines available for customers. SVT has a registered paid-up capital of THB 700 million, consisting of 500 million existing common shares and 200 million newly issued shares, with a par value of THB 1.0 each. It offered newly issued shares to the public during September 22-23 and September 27 at THB 2.54 each, for a total of THB 508 million. Phillip Securities (Thailand) pcl is financial advisor and lead underwriter. SVT Managing Director Apassara Panupatthana said that the company is very pleased to have SVT listed on SET and is confident that the listing will enable us to expand business. The fundraising will be used to purchase vending machines. The firm plans to install more vending machines to make a total of 20,000 units by the year 2023. In addition, SVT has adopted the latest technology to introduce an innovative smart machine to cater to general public who choose more cashless lifestyle nowadays. About 75 percent of the total conventional machines will be changed to smart machines by 2023. Moreover, the company plans to open three more branches in the north, northeast, and the southern part of Thailand, as well as strategically moving into machine rental and franchise businesses in the future. Overall, the company's growth strategy will build a robust business and maintain its leadership position in retailing merchandise through vending machines in Thailand. SVT's dividend policy is to pay no less than 40 percent of net profit after corporate income tax and legal reserves and the company's regulations. The company's dividend payout is subject to change depending on investment plan, liquidity, performance and others in the future. This aims to maximize benefits for shareholders. SVT's two major shareholders after IPO are Sahapattanapibul pcl and subsidiaries (44.02 percent) and Chokwatana Group (23.08 percent). For more information on SVT, 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.sunvending.co.th and www.set.or.th. "SET...Make it Work for Everyone" Follow us on Twitter @SET_Thailand_EN ______________________________________________________________________