"Smart TTC" files for IPO sale of 100 million shares to mai market
“Smart TTC”, a manufacturer and distributor of electric meters, files for an IPO of 100 million shares to enter the mai market to raise funds, repay debts, expand the business, and provide working capital.
Smart TTC Public Company Limited (STTC) has filed a registration statement and draft prospectus with the Securities and Exchange Commission (SEC) to offer up to 100 million newly issued ordinary shares to the public for the first time (IPO), with a par value of 0.50 baht per share.
with a plan to register in the Market for Alternative Investment (mai) with Yuanta Securities (Thailand) as financial advisor and underwriter
The Company intends to use the funds from this round of fundraising as working capital, repay loans from financial institutions, and support business expansion.
STTC operates as a manufacturer and distributor of electricity meters, as well as providing other related services, such as sales and installation, electricity usage data services, etc. The main products include electronic electricity meters and smart electricity meters. The main customer groups include the Provincial Electricity Authority (PEA) and the Metropolitan Electricity Authority (MEA).
Business operations are divided into 2 types:
- Electrical meter sales (Spare meters)
- Other services such as sales and installation of electricity meters (Sell and installation)
The company aims to change its revenue model from the original revenue from selling electricity meters to revenue from providing electricity management services, such as collecting electricity usage data in buildings or industrial estates, etc. The use of E-Meter or Smart Meter will help make electricity usage figures more accurate and reduce the need for manpower to perform such tasks, which can meet the needs of large electricity users and help the company reduce the risk of relying on a small number of customers, the risk of income inconsistency, and lead to the company's future revenue and profit.
For the fiscal years 2021-2023, the company's total revenue from sales and services was 75.33 million baht, 328.86 million baht, and 847.64 million baht, respectively. For the first six months of 2024, total revenue from sales and services was 540.69 million baht, an increase of 344.39 million baht, or a growth rate of 175.44%, compared to the first six months of 2023.
While in 2564-2566, the Company had net profit (loss) of (19.53) million baht, 66.80 million baht and 57.09 million baht, respectively. For the first 6 months of 2567, net profit was 43.41 million baht, an increase of 22.93 million baht or a growth rate of 112.01% from the same period in 2566.
As of June 30, 2567, the company had total assets of 863.82 million baht, total liabilities of 712.59 million baht and shareholders' equity of 151.23 million baht.
The company currently has a registered capital of 200 million baht, of which 150 million baht has been paid up. The shareholder structure is as follows:
- Ms. Pornthip Theptrakarnporn holds 102,500,000 shares, representing 34.17%. After the IPO, her shareholding will be reduced to 25.62%.
- Ms. Pimnarin Sinlaprak 45,000,000 shares, representing 15%, will be reduced to 11.25%.
- Ms. Nuchnarin Sinlaprak 45,000,000 shares, representing 15%, will be reduced to 11.25%.
- Ms. Netnarin Sinlaprak 45,000,000 shares, representing 15%, will be reduced to 11.25%.
- Tre Sorella Holding Company Limited 62,500,000 shares, representing 20.83%, will be reduced to 15.62%.
The Company has a policy to pay dividends to shareholders each year at a rate of not less than 30% of net profit according to the financial statements of the Company after deducting corporate income tax and deducting all types of reserves as specified by law and the Company each year.
Ms. Porntip Theptrakarnporn, CEO of STTC, revealed that the company is ready to provide services related to the sale of electricity meters, and in 2566, the company won the bid for the Provincial Electricity Authority's (PEA) project to purchase electronic meters to replace rotating disc meters nationwide.
The company is responsible for meter distribution and installation to deliver the work to PEA. The project began in 2566 as the first year and is expected to open for bidding on an annual basis until completion by 2573 to cover the entire country.
📌 Read news related to both Thai and international stock markets here 📌
