The Stock Exchange of Thailand (SET) will list Saksiam Leasing pcl, a leading regulated personal loan service provider, on December 8, under the ticker symbol “SAK”. The company has a market capitalization at its initial public offering (IPO) of THB 7.76 billion (approx. USD 250.3 million).
SET Senior Executive Vice President Manpong Senanarong said that SAK would list and start trading on SET in the Financials industry group, Finance & Securities sector.
SAK is the consumer lending provider for loans using vehicle title as collateral (car title loan) and unsecured loans supervised by the Bank of Thailand under “Saksiam” brand for over 25 years. The lender operates 519 branches covering 38 provinces in the North, Central, Northeast and West region with its headquarters located in Uttaradit province. In 2019, SAK expanded into nano finance and hire purchase financing businesses to raise opportunities for local people to be accessible to loans for occupation and working capital.
SAK has a registered paid-up capital of THB 2.096 billion, consisting of 1.55 billion existing common shares and 546 million newly issued shares, with a par value of THB 1.00 each. It offered the entire newly issued shares, with 163.80 million shares to persons under the underwriters’ discretion; 245.70 million shares to institutional investors; and 136.50 million shares to the company’s patrons, directors, executives, employees and related persons during November 26 – 27 and 30 at THB 3.70 each, for a total of THB 2.02 billion. Thanachart Securities pcl is its financial advisor and underwriter.
SAK Managing Director Siwapong Boonsalee said being a SET-listed member will enhance the company’s regulated personal loan business expansion potential. The fund raised will be used to expand personal loan business, repay partial debt to financial institutions and upgrade lending service system, which will enhance business efficiency and competitiveness. This will ultimately enable SAK to become one of the country’s regulated personal loan business leaders, and grow strongly and sustainably to consequently yield long-term return for shareholders and stakeholders across the board, while becoming a key mechanism to help build stability for the nation’s economy.
SAK’s three major shareholders after the IPO are Boonsalee family (67.06 percent), Bualuang Ventures Ltd. (7.16 percent), and Bualuang Long-Term Equity Fund (0.97 percent). The IPO price was set by a book building process, equivalent to price-to-earnings (P/E) ratio of 15.40 times, calculated by using the company’s net operating profit to reflect the adjustment of the one-time extra item occurred in the past 12 months starting from the fourth quarter of 2019 to the third quarter of 2020, divided by fully diluted shares, representing earnings per share of THB 0.24. The company’s dividend policy is to pay no less than 40 percent of net profit after corporate income tax and legal reserves from the company’s separate financial statement.
For more information on SAK, 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.saksiam.com as well as www.set.or.th.
Symbol: SAK