Thai bourse welcomes sugar producer Kaset Thai International Sugar

Stocks News Friday April 25, 2014 14:33 —PRESS RELEASE LOCAL

Bangkok--25 Apr--SET The Stock Exchange of Thailand’s (SET) welcomes Kaset Thai International Sugar Corporation pcl, Thailand's third biggest sugar producer, on its main board on April 28, under the ticker symbol "KTIS," with a market capitalization at the initial public offering (IPO) price of THB 38.6 billion (approx. USD 1.19 billion). SET Executive Vice President Chanitr Charnchainarong said that KTIS would be listed in SET's Food and Beverage sector, becoming the fifth new listing on SET this year. The company produced and distributed sugar and other related sugar-based businesses such as paper pulp, ethanol, and power plant. KTIS has a paid-up registered capital of THB 3.86 billion, consisting of 3.27 billion existing shares and 585.43 million newly-issued shares, with a par value of THB 1.00 each. The company offered the 957.83 million shares through an IPO at THB 10 per share during April 21-23, for the total of THB 5.85 billion. Kasikornthai Securities pcl is the company's financial advisor, while KT Zmico Securities pcl and Maybank Kim Eng Securities (Thailand) pcl are its joint lead underwriters. Parphan Siriviriyakul, CEO of KTIS Group, said "We feel honored to list on SET. This will be a significant step to enhance our goodwill and image, as well as financial strength and business potential. The fund raised will be used for the construction of two biomass electricity plants to increase another 100 mega-watt capacity, as well as the production projects of syrup, pure white sugar and organic fertilizer. ” KTIS's three major shareholders after the IPO are Siriviriyakul Family (68.47 percent), 3S Holding Co., Ltd. (7.55 percent), and Aushores Trust (Singapore) Pte. Ltd. (ATO Zenith Asia Fund) (3.32 percent). The IPO price had a price-to-earnings ratio (P/E) of 30.54 times, calculated by using its 2013 net profits, divided by the number of fully-diluted shares. KTIS's dividend policy is to pay no less than 50 percent of net profits after reserves. For more information on KTIS, please find the company's prospectus on the Securities and Exchange Commission's website at www.sec.or.th and general information on the company's website at www.ktisgroup.com and www.set.or.th.

เว็บไซต์นี้มีการใช้งานคุกกี้ ศึกษารายละเอียดเพิ่มเติมได้ที่ นโยบายความเป็นส่วนตัว และ ข้อตกลงการใช้บริการ รับทราบ