Somphob Sakpunpanom, Chairman of Asset Pro Management Co., Ltd. (APM), acting as financial advisor to Smothong Group Public Company Limited (SMO), revealed that the company conducted a roadshow presenting SMO’s information to investors in preparation for its Initial Public Offering (IPO) of 231.60 million shares at the Stock Exchange of Thailand (SET) on 20 October 2025.
Prior to this, presentations were made to 1,500 investors across several provinces—Chonburi, Ratchaburi, Nakhon Pathom, Phitsanulok, Nakhon Sawan, Nakhon Ratchasima, Khon Kaen, Chiang Mai, Hat Yai, Songkhla, and Surat Thani—all of which received consistently positive feedback, reflecting both strong business fundamentals and investor confidence in SMO. After completion of the investor presentations, the IPO subscription date will be set, with SMO expected to be listed on the SET soon.
Somsak Sirichainarumitr, Chief Executive Officer of APM, acting as financial advisor, stated that SMO engages in two core business: crude palm oil and related products, and biogas-based electricity generation using by-products from the crude palm oil process as fuel for internal consumption and for sale to the Provincial Electricity Authority. He also anticipated SMO listing on the SET in November.
Kittipong Puangmala, Chief Executive Officer of SMO, stated that the company has a total production capacity of 240 tons of fresh palm fruit per hour, ranking among the country’s leading crude palm oil producers.
The company aims to expand its overseas sales, with target customers primarily in India. In addition, Indonesia’s energy policy this year has altered diesel usage from B35 to B40, and in 2026 will move to B50, boosting crude palm oil demand. Meanwhile, the biogas power generation business has a total electricity production capacity of 14.38 megawatts (MW), under Power Purchase Agreements (PPA) totaling 12.70 MW.
The purpose of the fundraising is to invest further in the crude palm oil production and distribution business, focusing on expanding production plants to new locations, primarily in Southern Thailand, leveraging the group’s expertise to increase competitiveness within the industry.
Investments will also be made in related supply chain businesses, extending the core product line, and in process improvement projects to enhance environmental management efficiency. In addition, part of the proceeds will be used to repay bank loans obtained to expand the group’s production capacity and as working capital for the business.
Finansia Syrus Securities, the lead underwriter and IPO guarantor, stated that SMO will offer 231.60 million IPO shares, representing 25.17% of total shares after the offering—all of which are new shares. The registered and paid-up capital before the IPO is THB 688.40 million, divided into 688.40 million ordinary shares.
After the IPO, the total will be THB 920 million, divided into 920 million ordinary shares, with a par value of THB 1 per share. SMO will be listed on the SET under the Agriculture category and has a policy to pay dividends of not less than 50% of net profit after statutory reserves.
