SNNP announces IPO to fund new factory, pay debt
published : 7 Jul 2021 at 04:00
Srinanaporn Marketing Plc (SNNP), the manufacturer and distributor of soft drinks and snacks, announced its initial public offering (IPO) yesterday at a price of 9.20 baht per share with the subscription period set for today until Friday.
Chayut Leehacharoenkul, the company s chief financial officer, said the company s debut on the Stock Exchange of Thailand is scheduled for the third week of July.
SNNP plans to sell 240 million shares through the IPO, which will be allocated to retail investors, institutional investors and company employees.
The subscription period for institutional investors is set for July 12-14.
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TRIS Rating affirms the company rating on Amata Corporation PLC (AMATA) and the ratings on AMATA?s senior unsecured debentures at ?A-?, with a ?stable? outlook.
The ratings continue to reflect the company?s proven record as one of the leading industrial estate developers in Thailand. The company?s strengths are underpinned by its sizable base of recurring revenues from the sale of utility services and dividend income from its investments in several power plants. Nevertheless, the ratings are constrained by the company?s elevated leverage, coupled with the country and regulatory risks associated with AMATA?s overseas operations. The ratings also take into consideration the impact of the Coronavirus Disease 2019 (COVID-19) pandemic, which has brought about a significant decline in investment activities as well as Thailand?s slow pace of economic recovery.
published : 6 Jul 2021 at 11:32
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The government is considering introducing a tax on share sales by individual investors on the Stock Exchange of Thailand (SET) to generate additional revenue, three sources familiar with the matter told Reuters.
Officials are studying the possibility of ending a tax waiver, which has been in place since 1991, on securities sales on the SET, two sources said.
The tax of 0.11% on equities sales would apply to investors with a volume of more than one million baht per month, a source said. The government wants to find ways to generate more revenue, but this plan could spook investors, the source said.