Bangkok--4 Aug--SET
The Stock Exchange of Thailand (SET) will list Asefa pcl, a manufacturer and distributor of electrical power distribution products, on August 5, under the ticker symbol "ASEFA". The company has a market capitalization at its initial public offering (IPO) of THB 2.04 billion (approximately USD 60 million).
SET Executive Vice President Santi Kiranand said that ASEFA would list on SET in Industrials industry, Industrial Materials & Machinery sector. The company was a switchboard manufacturer and distributor under "Asefa" brand,as well as being a sole distributor of the world's leading brands namely, Schneider Electric Industries S.A. andSocomec S.A.. The company also distributed electrical power distribution-related products and provided technical and after-sales services. The main target clients were system contractors, construction contractors and project owners.
ASEFA has a paid-up registered capital of THB 550 million, consisting of 400 million existing common shares and 150 million newly issued shares, with a par value of THB 1 each. It offered 10 million newly issued shares to executives, directors and employees and 140 million shares to the general public via IPO, at THB 3.7 each, for a total of THB 555 million, during July 28-29 and 31, 2015. Finansia Syrus Securities pcl is the financial advisor and underwriter.
ASEFA Managing Director Phaiboon Ungkanakornkul said that to be enlisted on SET would strengthen the company's financial capability. The fund raised would be for building factories, setting up new branches in provinces, including debt repayment and working capital, with commitment to respond to customer expectations inproviding the best products along with creating dynamic growth to become a regional leader.
ASEFA's major shareholders after IPO are Phaiboon Ungkanakornkul (40.45 percent), Sa-Ngeam Klomchitcharoen(10.90 percent), Chairat Tangtivaja (10.81 percent) and Pornchai Uraisin (10.78 percent). The IPO price was equivalent to price-to-earnings ratio (P/E) of 17.62 times, calculated by using the net profit in the past 12 months (from April 1, 2014 to March 31, 2015), divided by the number of fully-diluted shares, representing earnings per share of THB 0.21. ASEFA's dividend payment policy is to pay no less than 50 percent of net profit after taxes and reserves.
For more information on ASEFA, 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.asefa.co.th , as well as www.set.or.th .