SET welcomes “PSP” on August 30

Editorial Staff

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 8.68 billion baht (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 1.4 billion baht 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 6.2 baht each for a total of 2.17 billion baht 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.