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SET welcomes hospitality holding company SHR on Nov 12

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Bangkok--11 Nov--SET Corporate Communications

The Stock Exchange of Thailand (SET) will list S Hotels and Resorts pcl, a holding company focusing on hotel investment and management business, on November 12, under the ticker symbol "SHR". The company has a market capitalization at its initial public offering (IPO) of THB 18.69 billion (approx. USD 603 million).

SET Senior Executive Vice President Manpong Senanarong said that SHR as a subsidiary of Singha Estate pcl, focusing on hotel and resort business, would list and start trading on SET in the Services industry group, Tourism & Leisure sector. Based on policy of Singha Estate in supporting subsidiaries to grow by their own, SHR will be able to access to funding source in the capital market.

SHR is a holding company which engages in investment and management of upscale and luxury hotels & resorts located in the world's top tourism destinations. SHR operates 39 hotels & resorts with a combined 4,647 rooms in five countries comprising Thailand, Maldives, Republic of Fiji, Republic of Mauritius and the United Kingdom, under its own management as well as global chains such as Hilton, Hardrock and Outrigger. The first initiative is Santiburi beach resort on Samui Island in Southern Thailand. As of June 30, 2019, SHR's average occupancy rate was at 76-79 percent.

As of June 30, 2019, SHR had a register paid-up capital of THB 10.78 billion, with a par value of THB 5 each. After that it offered 1,437 million newly issued shares to the general public via IPO, at the price of THB 5.20 each, for a total of THB 7.48 billion, and the total paid-up capital will be THB 17.97 billion. CIMB Thai Bank pcl and Krungthai Bank pcl are its financial advisors, while KT Zmico Securities Co., Ltd. and Credit Suisse Securities (Thailand) Limited are the co- underwriters.

Singha Estate Chief Executive Officer Naris Cheyklin said SHR's listing on SET will widen opportunities for S's hospitality business expansion. The fund raised will be used for investment and development of the company's and its subsidiaries' assets in both domestic and overseas, including debt repayment to cut down financial costs, and as working capital.

After the IPO, Singha Estate remains SHR's major shareholder, holding a 60 percent stake through S Hotels and Resorts Inter Co., Ltd. (48.6 percent) and S Hotels and Resorts (SG) Pte. Ltd. (11.4 percent).

SHR's dividend policy is to pay no less than 40 percent of net profit of the company's separate financial statement after corporate income tax, and reserves stipulated by law and SHR each year. However, the company's dividend payout may be different from this policy subject to the company's performance, financial position, liquidity, investment and business expansion plan, as well as terms and conditions of loan contract.

For more information on SHR, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th ; and for general information, please visit www.shotelsresorts.com and www.set.or.th.


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