Bangkok--22 Dec--SET
Market for Alternative Investment (mai), under the Stock Exchange of Thailand (SET) group, will list K.C. Metal Sheet pcl, a metal sheet producer, on December 23, being the 20th IPO listed on mai this year, under the ticker symbol "KCM”. The company has a market capitalization at its initial public offering (IPO) of THB 884 billion (approx. USD 26.79 million).
mai President Prapan Charoenprawatt said that KCM manufactured, designed and installed metal sheets for walls and ceilings under "Rodtang" and “Commando” brands. The company operated 22 sales offices to serve retail customers in central, northern and northeastern parts of Thailand, It also serve corporate customers which were large-sized contractors and construction materials suppliers such as Siam Global House pcl.
KCM has a paid-up registered capital of THB 170 million, consisting of 480 million existing common shares and 200 million newly issued shares, with a par value of THB 0.25. The new shares were offered to the general public via IPO during December 15-17 at THB 1.3 each, for a total of THB 260 million. Asset Pro Management Co., Ltd. is its financial advisor, while Capital Nomura Securities pcl is its underwriter.
KCM Managing Director Nipon Charoenkij said that the fund raised would be used to expand three branches and 92 small sales offices, buy new machinery, invest in properties for rent, as well as for working capital. As such, the listing would enhance the company’s image and financial strength to achieve sustainable growth.
KCM's three major shareholders after the IPO are Charoenkij Group (70.58 percent), Premrudee Kundee (0.22 percent) and Siraprasert Jirapornprapa (0.17 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 89.04 times, calculated by using the company's net profit in the past four quarters (Q4 2013 - Q3 2014) divided by fully diluted shares, representing earnings per share of THB 0.0146 KCM' s dividend policy is to pay no less than 40 percent of net profits after taxes and reserves. Starting from the first trading day of 2015, mai will announce eight industry groups categorizing from their business aspects, and KCM will then be classified into Industrials sector. For more information on KCM, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.kcmetalsheet.co.th , as well as www.mai.or.th.
For more information, please contact S-E-T Call Center +66 (0) 2229 2222.
Members of the media should contact the Public Relations Unit, Corporate Communications Dept.:
Arada Kultawanich, tel: +66 (0) 2229 2796 / Kanokwan Khemmalai, tel: +66 (0) 2229 2048.