mai welcomes construction consulting and management firm “STI” on December 19

BANGKOK, December 18, 2018 – Market for Alternative Investment (mai) will list

Stonehenge Inter pcl, a large construction consulting and management firm, on

November 19, under the ticker symbol “STI”. The company has a market

capitalization at its initial public offering (IPO) of THB 1.69 billion (approx.

USD 51.15 million).

mai President Prapan Charoenprawatt said that STI would list and start trading

on mai in Property & Construction Industry Group.

STI provides consulting, management and supervisor service for construction

projects focusing on residential real estate inclusive of high-rise and low-rise

office buildings, department stores hotels, and many more. Its past projects

included EmQuartier department store, Terminal 21 mall (in Nakhon Ratchasima),

Pearl Bangkok office building, Empire Tower (renovation project), and Bluport

Resort Mall (in Hua-Hin).

In addition, Stonehenge Co., Ltd., a subsidiary owned by STI, is also a

well-known architecture and engineering design and interior design, as well as

conservation of historical buildings such as the 100 Year Building of Somdet

Phra Nyanasamvara – Supreme Patriarch at Bowonniwet Vihara Temple, Maliwan

Palace, and Wangburapa Underground station (Blue line) , among others.

STI has a registered paid-up capital of THB 134 million, consisting of 200

million existing common shares and 68 million newly issued shares, with a par

value of THB 0.50 each. It offered the newly issued shares to general public

via IPO, categorized into: 51 million shares to investors through underwriters,

no less than 10.20 million newly issued shares to patrons of the company, no

less than 6.80 million shares to directors, executives and employees of the

company & subsidiaries, during December 6-7 and 11, 2018 at THB 6.30 each, for a

total of THB 428 million. Jay Capital Advisory Limited is its financial

advisor, while KTB Securities (Thailand) pcl is its lead underwriter.

STI Chief Executive Officer Somkiat Silawatanawong said that the company focuses

on the best standard and quality to match the client’s budget and timeline

requirements. STI has constantly adopted information technology systems and

innovations related to construction project management to enhance efficiency.

The company is committed to developing employees’ skills though training, while

developing specific computer program to support construction consulting and

management services. The fund raised would be used for building new training and

development center, investing in information technology and new computer

systems and programs for design, work control and financial and accounting, as

well as working capital.

STI’s three major shareholders after IPO are Univentures Capital Company Limited

(26.12 percent), Silawatanawong’s Group (15.07 percent), and Peumpremsuk’s

Group (11.19 percent). The IPO price was equivalent to price-to-earnings (P/E)

ratio of 29.76 times, calculated by using the company’s net profit in the past

12 months (October 1, 2017 – September 30, 2018) amounting to THB 56.73 million,

divided by fully diluted shares, representing earnings per share of THB 0.21.

STI’s dividend policy is to pay no less than 50 percent of net profit from the

company’s financial statement after corporate income tax and legal reserves.

For more information, please see the company’s prospectus at the Securities and

Exchange Commission’s website at; and for general information,

please visit and

Source: The Stock Exchange of Thailand

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