Bangkok--13 Jun--SET
Salee Colour PCL will list and start trading on Thailand’s Market for Alternative Investment (mai) on June 14, following its success in raising nearly THB90 million (approx. USD2.96 million) to strengthen its business.
The company’s trade symbol will be “COLOR”, revealed mai President Chanitr Charnchainarong. It manufactures color and additive masterbatch for the thermoplastic and rubber industries. COLOR has a paid-up registered capital of THB145.25 million (approx. USD 4.42 million), with a par value of THB1 each. During June 1-3, the company sold 30 million capital increase shares to the general public through an initial public offering at THB2.89 per share, raising THB86.70 million (approx. USD2.64 million). Finnex Advisory Co., Ltd. was the company’s financial advisor and Country Group Securities PCL was its underwriter.
“The demand for plastic products today has shown continuing growth and expansion. COLOR’s fundraising will help support the company's business expansion and strengthen its financial status. In addition, it offers investors yet another investment alternative, which is a major mission of mai,” said Chanitr.
“It is a great opportunity for the company to list on the mai. The fund raised will be used in build up new factory, buying new machineries, improving and expanding production lines, and as working capital and for debt repayments, which will help strengthen the company’s potential and boost its growth rate. The company is in related to downstream petrochemical industry. Therefore, the company is growing in parallel with the expansion of petrochemical and oil industries. In addition, the company has exported its products to Laos, Malaysia, Myanmar, and Vietnam. We are confident on the company’s potential and trust that the company will receive great attention from various investors,” said Salee Colour PCL Managing Director, Kwanchai Nuttased.
COLOR’s P/E ratio at its IPO price was 14.82 times. Its dividend policy is to pay no less than 30% of net profits after taxes and legal reserves. Its three major shareholders after the IPO are VIV Interchem Co., Ltd. (20.45%), Mr. Yongyuth Chaipromprasit (10.50%) and Mr. Rach Thongvanit Group (9.02%).
For more information on COLOR, 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.saleecolour.com or www.set.or.th