Thai rubber glove maker Sri Trang plans IPO to raise $480 million。
06/22/2020 | 08:12am EDT
Sri Trang Gloves Thailand (STGT) plans to raise 14.9 billion baht ($480.34 million) in an initial public offering (IPO), it said in a filing on Monday in the country's biggest IPO amid the coronavirus outbreak.
The rubber glove maker, a subsidiary of the country's biggest natural rubber producer Sri Trang Agro Industry Pcl, booked revenue of 3.79 billion baht in the three months ending in March, up 25% from 2.98 billion baht a year ago, according to the filing.
The increase was driven by rubber glove sales of 6.2 billion pieces, up 28.7% from the same period a year ago, and new production lines and factories in southern Thailand.
The company said sales had increased partly due to the COVID-19 pandemic.
Gross profit nearly doubled in the first quarter this year, jumping 79.7% to 706.6 million baht, also helped by lower oil prices.
The IPO period will be between June 23-25 and the company plans to sell 438.78 million shares, priced at 34 baht each. The first trading day is slated for July 2, it said in a statement.
The funds raised will be used for to expand production capacity and to pay off debt.
Sri Trang Gloves's facilities in Thailand have a production capacity of 32.6 billion gloves per year, aiming to produce 100 billion by 2032.
Thailand is the world's biggest producer of natural rubber, including latex, and has planned for years to increase domestic use to boost prices.
Thailand exports latex to Malaysia, where the world's biggest medical glove marker Top Gloves posted a 366% jump in third quarter profits on increasing protective gear demand.
After the share sale, its parent company Sri Trang Agro Industry will reduce holdings from 73% to 50.7%.
pretty soon within 30 days from last week as the Principal Officer has announced his intention to deal with securities within the closed period. latest edge article over the weekend has confirmed the potential massive upside of this stock and the year on year exponential profit increase. A stock that is massively undervalued priming for a shoot up...
And yes, Dnonce's major customers are Top Glove Thailand and Sri Trang. with the gloves manufacturing in full swing and in massive demand, the profits of Dnonce is also pegged to this massive surge. Only difference is unlike gloves which have been almost fully priced, this stock is still massively undervalued for the kind of exponential profits it is growing and making...
I am remember one penny stock named SCOMNET, also like Dnonce below RM1.00 that time. Due to SCOMNET's Profit After Tax increase because of the demand of medical devices biz industry continue to exhibit Good Growth. Dnonce Grow pattern is similar Scomnet.
conservative TP: 0.80-0.90 range. Bullish TP:1.00 -1.10 based on exponential growth profits. This company profits has been growing for the last 3-4 quarters since new management last year. even before MCO and covid...
look at the sudden buying interest. everyone wants to buy cheap...it is now in collection mode... when it flies it will just shoot up without any warning. last chance to collect...
QR within 30 days from last week according to Bursa rules when a principal officer announces his intention to deal with securities of the company during closed period. In view of this urgency to fast-track the results, the results must be very very good...
last week's red candle failed to show a downtrend. today uptrend instead.... this means that itll only go upwards from here onwards because of good quarter and also how the packaging industry is doing well. this stock might be a good buy now
Usually the warrant will suspend trading activity 2 to 3 weeks ahead of its prescribed maturity date set on 25/9/2020 meaning it's quite close to its trading suspension activity . Still got to further check out for warrant holders who bought b4 warrant trade suspension period set out are deemed fitted and qualified to convert its warrant shares after the prescribed suspension period to be determined by the company . Conversely the mother shares price must support its warrant shares price and currently the warrant shares price has subsequently shoot up with tandem to its mother shares price and still attractive as exercise conversion price stood at 0.25 cents unless in the coming days the mother shares price subsequently depressed with the risks factor .
I mean let's be logical, if the Q2 is not spectacular, why would the CEO so bold go and give interview to the edge over weekend and then say their profits are massive and they are going to make like gloves...later kena sue for negligent mis-statement. So definitely will be spot on very massive profits. after all before MCO this company has been growing profits for 3 quarters consecutively since change of management. The question is how much profits % increase and what is the yield from this stock price...that is the only question...
howtoclimb@ glad you have faith in my analysis. Yes. Q2 is anytime this week. tomorrow is likely because next week is the corporate briefing on how the company performed for the financial year. foreseen to be spectacular since they are taking efforts to showcase it.
there are now 2 stocks that are primed for a shoot-up. D'Nonce and Vizione. You can check out Vizione also...this is not a buy call. just a sharing. please help to do your own research before investing. Vizione is a cash rich company which has a billion dollar orderbook and is a net cash company. The stock price is now on a technical buy out call...
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
mayongzheng
489 posts
Posted by mayongzheng > 2020-08-29 07:22 | Report Abuse
Dnonce会脱离penny stock 身份。
RM1.00 是迟早的事.