OR Expects the Listing in SET Index to Enhance Business Operations as Market Leader
OR Expects the Listing in SET Index to Enhance Business Operations as Market Leader.
OR Expects the Listing in SET Index to Enhance Business Operations as Market Leader.
11 ก.พ. 2564

The Stock Exchange of Thailand (SET) has listed PTT Oil and Retail Business Public Company Limited (OR), a leading fuel retailer and retail business operator, on February 11, under the ticker symbol “OR”. The company has a market capitalization at its initial public offering (IPO) of THB 208.98 billion (approx. USD 6.9 billion).
 
SET Senior Executive Vice President Manpong Senanarong said that OR would list and start trading on SET in the Resources industry group, Energy &amp; Utilities sector.
 
OR is PTT Group‘s flagship company in operating oil and retail business locally and internationally, making a mark as a leader in both the retail and commercial market for fuel, liquified petroleum gas and lubricants in Thailand. With an integrated business model and management, the company has fulfilled customer’s with value-added for all groups of stakeholders in a balanced and sustainable manner.
 
The company has operated through over 1,900 PTT’s stations across the country (as of September 30, 2020), gaining 38.9 percent of market share in terms of retail fuel sales volume in Thailand (according to the data collected by Wood Mackenzie as of December 31, 2019).
In addition, OR also has operated Cafe Amazon, Thailand’s largest coffeehouse chain by the number of branches, with over 3,100 branches nationwide (as of September 30, 2020). Cafำ Amazon is considered the world’s sixth largest coffee cafe chain by the number of branches (as of December 2019 by Euromonitor).
The company has an exclusive license to operate Texas Chicken brand in Thailand, and master franchise right to operate food business of Hua Seng Hong Dim Sum brand. Moreover, the company has also secured a number of strategic partnerships with leading global and local brands.
 
On the day of the trading debut, OR’s registered paid-up capital will be THB 116.1 billion with a par value of THB 10.00 each. It offered 2.61 billion newly issued shares to general public at THB 18 each, for a total of THB 46.98 billion (excluding the over-allotment). Bualuang Securities pcl, Finansa Securities Co., Ltd., Kasikorn Securities pcl, Kiatnakin Phatra Securities pcl, and Tisco Securities Co., Ltd. are the five financial advisors and lead underwriters.
 
OR President &amp; Chief Executive Officer Jiraphon Kawswat said that listing on SET will strengthen OR’s positioning to be a market leader and enhance the company to operate the business in line with the OR’s vision, to be Thailand’s leading global brand that creates values to communities through oil, retail and related businesses.
The fundraising will be used to expand the gas station network, penetrate further into the commercial market business, invest in petroleum depot and distribution center, grow the entire retail network, as well as investing in overseas business and new S-Curve business. This move is to ensure the company’s resiliency to the ever-changing business environment. In addition, the company plans to leverage its success and expertise at regional and global levels.
 
OR’s major shareholder after the IPO is PTT Public Company Limited (PTT) and the shareholding ratio will not lower than 75 percent of the paid-up capital after the share allocation upon the return of the borrowed shares. The company’s dividend policy is to pay no less than 30 percent of net profit after legal and other reserves as specified by the company. However, the dividend payment must not exceed OR’s accumulated net profit.
 