Shrinkflex moving ahead with IPO

Shrinkflex Thailand Plc (SFT), the country’s largest shrink-film label maker, remains confident in its IPO plan despite growing anti-government sentiment and the resulting massive street rallies.

The Covid-19 crisis, which has dealt a heavy blow to the domestic economy, is also not a hindrance to the initial public offering, according to RHB Securities, which was hired by SFT as financial adviser.

SFT founder and chief executive Sung Tsoi said yesterday that the company will carry out the share subscription agreement next week and begin trading on the Market for Alternative Investment (MAI) on Oct 29.

SFT’s newly increased registered capital will be no more than 120 million shares at a price of 3.80 baht a share.

During a recent roadshow for the IPO, SFT received an enthusiastic response from investors, said RHB Securities managing director Khomklit…