Bangkok--16 Aug--SET
Market for Alternative Investment (mai) will list Ziga Innovation pcl, a manufacturer and distributor of structural steel pipes under the brand "ZIGA" as well as electrical conduit under the brand "DAIWA", on August 17, under the ticker symbol "ZIGA". The company has a market capitalization at its initial public offering (IPO) of THB 3.07 billion (approx. USD 91.64 million).
mai President Prapan Charoenprawatt said ZIGA would list and start trading on mai in the Industrials group. ZIGA manufactures and distributes galvanized steel pipe (pre-zinc) with characteristics of erosion resistance, rust proof and cut-to-length flexibility. It produces structural steel pipes or general purpose steel pipes under the brand "ZIGA" for light-weight structural works such as animal stall, plant nursery, furniture, and others. In addition, the company also produces electrical conduit under the brand "DAIWA". The company's product standards are widely accepted and have gained trust from dealers, retailers, contractors, and project developers.
ZIGA has a paid-up capital of THB 260 million, consisting of 440 million existing common shares and 80 million newly issued shares, with a par value of THB 0.50. During August 9 to 11, the company allotted 80 million newly issued shares to general public via IPO at THB 5.90 each, for a total of THB 472 million. In addition, ZIGA's major shareholder, Dee Ngam Holding Co., Ltd., has also offered 50 million existing shares via IPO at the same price. The total market cap at IPO was THB 3.07 billion. Finnex Advisory Co., Ltd. is the financial advisor and Thanachart Securities is the lead underwriter.
ZIGA Chief Executive Suppakit Ngamchitcharoen said with over 19 years of experience, the company has focused on product differentiation, quality consistency throughout the whole supply chain from premium raw material choices to production in accordance with national and international standards, inclusive of quality control, to assure customers the delivery of standardized and quality products. The fund raised would be used for land acquisition, factory construction, new machinery purchases and as working capital.
ZIGA's three major shareholders after the IPO are Ngamchitcharoen's Family Group (65.03%), Treemutthaphong's Family Group (9.97%) and Hudsadinpaisan Surname's Group (0.97%).The IPO price was equivalent to price-to-earnings ratio (P/E) of 17.56 times, calculated by using the company's net profit in the past four quarters (July 1, 2016 - June 30, 2017) of THB 174.48 million, divided by fully diluted shares, representing earnings per share of THB 0.336. ZIGA's dividend policy is to pay no less than 50% of net profit after taxes and legal reserves as required by law and the company's regulations.
For more information, please see the company's prospectus at the Securities and Exchange Commission's (SEC) website at www.sec.or.th; and for general information, please visitwww.ziga.co.th as well aswww.set.or.th.