Bangkok--2 Jun--SET
Union Intraco PCL will list and start trading on Thailand’s Market for Alternative Investment (mai) on June 3, following its success in raising nearly THB100 million (approx. USD3.03 million) to expand business.
Union Intraco PCL, a subsidiary of Union Petrochemical PCL (UKEM), which is also a mai-listed company, will start trading its shares on mai as well from June 3, after it has raised THB99.84 million (approx. USD3.03 million) in new capital. Its trade symbol will be “UIC”, revealed mai President Chanitr Charnchainarong.
UIC has a paid-up registered capital of THB130 million (approx. USD3.94 million), with a par value of THB1.00 each. The company sold 52 million capital increase shares through its IPO at THB1.92 per share, with no more than 13 million shares sold through pre-emptive rights for UKEM shareholders and the remaining 39 million shares allocated for public sale. Finnex Advisory Co., Ltd. was the company’s financial advisor and Finansia Syrus Securities PCL was the company’s underwriter.
“UIC imports and distributes specialty chemical for industrial use, which are expected to continue to be increasingly in demand. UIC’s listing will provide another investment alternative for investors, as they can invest in quality, medium-sized corporations with high growth potential. Its capital raising will also help strengthen the company’s financial position to be more secure”, said Chanitr.
“It is our pleasure to list on the mai, which will help strengthen our business operations. The funds raised will be used as working capital boosting the company’s strengths and continual business expansion. In addition, the trend on specialty chemical is showing a good sign of expansion, while the company has been appointed to be the selling agent of titanium dioxide for Huntsman Group’s subsidiaries, the world’s fourth largest titanium dioxide manufacturer, which will help strengthen the company’s performance. We have confidence in the company’s business potential and believe that the firm will receive great attention from investors. UIC’s operating performance for the past three years has shown a continuous growth, or a compound annual growth rate (CAGR) of 15.55% annually (2007-2010),” said UIC Chief Executive Perajed Suwannapasri.
UIC’s P/E ratio at its IPO price was 14.62 times. UIC’ dividend policy is to pay no less than 40% of net profits after taxes and legal reserves. Its three major shareholders after the IPO are Union Petrochemical PCL (59.99%), Suwannapasri family group (0.73%) and Ms. Ratikorn Netrpukkana (0.62%).
For more information on UIC, please see the company’s prospectus at the Securities and Exchange Commission’s website at www.sec.or.th and the general information at the company’s website at www.unionintraco.co.th or www.set.or.th