Mr. Kittipong Puangmala, Chief Executive Officer of Smothong Group Public Company Limited (SET: SMO), stated that the company’s official listing and trading on the Stock Exchange of Thailand (SET) today (10 November 2025) marks a significant milestone in business development and growth potential. This progress is built on robust business fundamentals and extensive experience in the palm oil industry.
The company stands as one of the nation’s leading crude palm oil (CPO) producers, playing a key role in driving the palm oil sector and strengthening Thailand’s food security. At the same time, SMO’s electricity production and distribution business, which utilizes biogas fuel, further enhances the country’s energy security.
This fundraising will strengthen the company’s financial position, support business expansion, and enhance competitiveness. After the initial public offering (IPO), SMO’s paid-up capital stands at THB 920 million, with a public offering of 231.60 million new shares at THB 5.40 per share, raising THB 1.25 billion, and an IPO market capitalization of THB 4.96 billion.
Post-IPO major shareholders include: 1) the Puangmala family group holding 20.46%, 2) the Piriyetyanggoon family holding 20.16%, and 3) the Lim family holding 17.75%. The company has a dividend policy of paying no less than 50% of net profit after statutory reserves, based on consolidated financial statements.
Dr. Sompop Sakphanphanom, Chairman of Asset Pro Management Co., Ltd. (APM), as the financial advisor of SMO, stated that the company received an excellent response from investors nationwide, with subscriptions for the entire allotment of IPO shares of SMO. This robust demand reflects investors’ strong confidence in the company’s solid fundamentals.
The three major shareholder families all demonstrated their confidence in the company’s potential by agreeing to lock up all their shares. At the same time, the vast majority of retail investors also committed to holding their shares long-term, with only 3% making an exception. This underscores the stability of SMO’s shareholder structure and long-term growth direction.
Additionally, the company’s existing shareholders, including executives and related persons, are subject to a Silent Period under SET regulations for one year from the first trading day, signifying strong confidence in the company’s prospects and future.
Mr. Soravis Krairiksh, Vice President of Issuer & Listing Division and the Market Division at SET, stated that SMO was listed and commenced trading in the SET under the agricultural and food industry group, in the agricultural business sector, to expand capacity, integrate CPO supply chain, reinforce environmental, social, governance (ESG) and operational efficiency, and strengthen connections with farmer networks for sustainable growth in Thailand’s palm oil industry.
SMO is a producer and distributor of CPO, by-products, and electricity generated from biogas in line with the circular economy approach. The company manages resources for maximum benefit, starting from the selection of raw materials to standardized production management for high yields, and utilizing by-products for energy generation.
Currently, SMO operates four plants located in Surat Thani, Chumphon, and Saraburi, with a total extraction capacity of 240 tons of fresh palm fruit per hour and total power production capacity of 14.38 megawatts (MW), with 12.70 MW secured under power purchase agreements (PPA). The company markets its products both domestically and internationally, establishing itself as a key CPO producer in the country.
