กรุงเทพฯ--7 ต.ค.--SET
Universal Adsorbents & Chemicals PCL, an energy and alternative energy operator, will list on Thailand’s Market for Alternative Investment (mai) on October 11, using UAC as its trading symbol, after raising total funds of THB120 million (approx. USD3.87 million). The company is the fourth company to list on mai this year, revealed mai President Chanitr Charnchainarong.
UAC imports and distributes chemicals and equipments used in natural gas exploration and production, gas separation, oil refining, petrochemical production and engine oil production. The company expanded into alternative energy and joined hands with Bangchak Petroleum PCL in establishing Bangchak Biofuel Co., Ltd. to produce and distribute bio-diesel, which is partially used as an alternative in diesel (According to UAC’s prospectus). Energy and alternative energy is one of the target businesses that SET and mai aim at encouraging to list, as they are vital industries with potential growth and need funds for expansion.
UAC has a total paid-up capital of THB150 million (USD 4.83 million), consisting of 120 million existing common shares and 30 million shares from its capital increase, with a par value of THB1.00 each. At its initial public offering (IPO) on September 30, October 1 and 4, 2010, the company raised THB120 million (USD3.87 million), by offering 30 million shares at THB4.00 per share to the general public. The funds raised will be used for the compressed bio-gas project, which produces gas from pig excrement to use in cars. The funds raised will also be used for additional investment in joint venture companies, and as working capital. Advisory Plus Co. Ltd. was the company’s financial advisor and Kim Eng Securities (Thailand) PCL was the company’s underwriter.
UAC’s P/E ratio at its IPO price was 8.69 times, calculated from 2010 annualized profit of THB69.30 million (approx. USD2.23 million) and divided by the number of total shares after IPO of 150 million shares, resulting in an earnings per share of THB0.46 (According to UAC’s prospectus).
UAC’s policy is to pay out no less than 40.00% of net profits after taxes and legal reserves. The company’s major shareholders are Mr. Kitti Jivacate, the Jarumanopas group, and Mrs. Waranee Seriwiwattana, who hold 57.13%, 7.20% and 3.00%, respectively, of total shares after IPO.
For more information, please see the company’s prospectus at the Securities and Exchange Commission (SEC) at www.sec.or.th and for general information of the company, please visit UAC’s website at www.uac.co.th and www.set.or.th .
For more information, please contact S-E-T Call Center 0 2229 2222
Members of the media should contact the Public Relations Unit, Corporate Communications Dept.: Ladawan Kantawong, tel: 0-2229-2036 / Kanokwan Khemmalai tel: 0-2229-2048 / Nattaya Muangman, tel: 0-2229-2043