Siam Technic Concrete Public Company Limited (STECH) kicked off its first trading day with a gain of ฿0.76/share or 27.34% to ฿3.54/share with a trading value of 596.45 million baht. The IPO of STECH is ฿2.78/share.
STECH is a manufacturer and distributor of prestressed concrete products under the trademark “STEC”, including prestressed concrete piles, prestressed concrete power poles and various prestressed concrete products for government and private sectors as well as providing product transportation and piling services.
The company also provides construction services specific to the company’s core business or construction work which it has demonstrable achievement and experience including installation of 115 kV high voltage transmission lines and design, supply and installation of fiber optic cables.
The Company has a policy to pay dividends to shareholders at not less than 40.00 percent of the Company’s net profit after deduction of corporate income tax and legal reserve, according to the separate financial statements of the Company.
In 2018 – 2020 the Company has net profit of THB 85.74 million, THB 93.23 million and THB 140.60 million, respectively, or equivalent to a net profit margin of 4.75, 5.44 and 9.07 percent, respectively, and net profit for the first three months of 2020 – 2021 amounted to THB 30.98 million and THB 32.89 million or equivalent to a net profit margin of 7.51 and 8.23 percent, respectively. For the three-month period of 2021, the Company had an increase in net profit of THB 1.91 million or an increase of 6.18 percent compared to the same period of the previous year.
Meanwhile, 10 securities companies indicated a fair value for STECH at a range of THB3.22 – 3.93 per share, excluding potential growth and strong outlook in the future.