S Hotels & Resorts’ 1,437,456,000 IPO Shares Sold Out with Oversubscription from Local and Foreign Investors

Press Room

Raised proceeds of THB 7,4745 million will be used on business expansion to double its hospitality portfolio by 2025

M.L. Thongmakut Thongyai, Chief Executive Officer, KT ZMICO Securities, lead arranger and lead underwriter, said shares of S Hotels & Resorts Public Company Limited or “SHR” received an overwhelming interest from investors, showing confidence of the investors in the SHR’s strong fundamental and growth potential. The 1,437,456,000 IPO shares accounting for not exceeding 40% of the total paid-up capital were offered to local and foreign investors during 28 October to 5 November 2019, including retail investors through the network of Krung Thai Bank,  CIMB Thai Bank and other four arrangers and underwriters. The IPO price was set at THB5.2 per share.

Of the total portion allocated, 60% was allotted to institutional investors and 40% to retail investors. With a highest growth rate potential compared with the listed hospitality peers on the Stock Exchange of Thailand (SET), investors are confident in the company’s strong foundation and potential to grow sustainably while seeing SHR as a stock with revenue growth potential in the future.

“SHR is a holding company with high growth potential. The company invests and manages hotels and resorts in attractive tourist destinations globally. It focuses on providing unique travel experience, dynamically responding to unmet customer needs and creating values to all stakeholders. The firm has set its goal to raise the bar of quality travel and lifestyle as well as collaborating with business partners and ensuring that corporate governance is well in place,” said M.L. Thongmakut.

Mr. Chairath Sivapornpan, Chief Financial Officer of S Hotels & Resorts Plc, said proceeds from the IPO will be used for hospitality business expansion and investment in projects in domestic and overseas markets. The fund raised will be also used for loan repayment and as working capital, including project developments, renovation and maintenance.

Over the past 3 years (2016-2018), the company reported an average revenue growth of 63.1% per annum with total revenue of THB968.0 million, THB1,074.0 million and THB2,575.7 million respectively. Revenue of the first half of 2019 rose to THB1,751.8 million, a 144.8% rise from THB715.6 million in the same period last year.

Earnings before interest, tax, depreciation and amortization (EBITDA) of the first half of 2019 were THB461.6 million, an increase of 73.5% from THB266.0 million in the same period from the previous year. The increase over the past 3 years was driven by improving management efficiency and revenue generated after acquiring 6 Outrigger properties.

Mr. Dirk De Cuyper, Chief Executive Officer of S Hotels & Resorts Plc, said SHR plans to double our hospitality portfolio from the current 39 hotels and resorts with 4,647 rooms to 80 properties with more than 8,000 rooms by 2025. This is translated into an average 15% growth per year.

“We’d like to thank all of the investors in investing in SHR’s IPO. The raised proceeds will be used on the target business expansion. SHR aims to be a premier international hospitality management and hotel investment company with a sustainable growth,” Mr. De Cuyper added.

For more information, please visit https://www.shotelsresorts.com/

About S Hotels & Resorts:
S Hotels & Resorts, a subsidiary of Singha Estate Public Company Limited, is a new era Thai-inspired personalized hospitality company that caters to upscale travellers with an independent spirit. The group offers guests a portfolio of 39 properties in 5 countries with a total of 4,647 keys and provides guests with the opportunity to experience the best destinations from a unique perspective while enjoying world class facilities and tailored services. S Hotels & Resorts’ properties are located in attractive, unspoiled locales to provide an exclusive playground built around nature, culture, wellness and adventure, with luxurious amenities and fine cuisine. Each property boasts its own distinctive, destination sensitive designs and unique signatures while also providing consistency thanks to a well-defined brand philosophy and a service culture that focuses on exceptional guest experiences backed up by Thai-inspired hospitality and global quality standards. To learn more, visit www.shotelsresorts.com.

S Hotels & Resorts Public Company Limited 123 Suntowers Building B, 10th Floor, Vibhavadi-Rangsit Road, Chom Phon, Chatuchak, Bangkok 10900
Tel. +66 (0) 2058 9888

For media contact
124 Communications: PR Consultant for SHR
Kanyanut Srichaipatarakul (Aom) Tel. 089-457-1180
E-mail: kanyanut@124comm.com

Corporate Communications
Cassandra Chenyue Xu Tel. +66 (0) 91-821-9001
Email: cassandra.x@shotelsresorts.com