Bangkok--2 Nov--SET
The Stock Exchange of Thailand (SET) welcomes Asian Phytoceuticals plc to its Market for Alternative Investment (mai). The company will list and start trading on November 4, under the ticker symbol “APCO,” after it raised THB140 million (approx. USD 4.57 million) through an initial public offering (IPO).
APCO and its subsidiaries manufacture dietary supplements and beauty cosmetics products for both domestic and international markets. It has a paid-up registered capital of THB 200 million, with a par value of THB 1 each. It has sold 50 million new shares at THB 2.80 each on October 27-28 and 31. Of the amount, 45 million shares were sold to the general public, and the remaining 5 million shares to its executives and employees under its ESOP (Employee Stock Option Program). Phillip Securities (Thailand) plc is the company’s financial advisor and underwriter.
“Cosmetic and dietary supplement businesses have high potential growth as they meet demand of consumers in the current age. In addition to the company’s distinguished research and development, the listing will also help enhance its image and differentiate it from the firm’s rivals,” said Chanitr Charnchainarong, SET’s Chief Issuer & Listing Officer and mai’s President.
Pichaet Wiriyachitra, APCO’s Chief Executive Officer, said; “Listing on the mai will boost our chances to widely distribute products which are the result of innovation and research in health care. These products will benefit society and those with health problems. The funds raised will be to invest in branch offices and reach more customers by setting up sale offices in Dubai, Singapore and Hong Kong. The company expects to be able to maintain a consistent growth rate. Last year, total revenues were at THB 258 million and net profit at THB 44 million. In the first half of this year, APCO gained THB 141 million in revenues and THB 23 million in net profit.”
The P/E ratio of the company at its IPO price was 12.25 times, while its dividend policy is to pay no less than 40 percent of net profits after taxes and legal reserves. APCO’s three major shareholders after IPO are the Wiriyachitra family (56.91 percent), Chinakarn Samalapa (15 percent), and the Hanchanlash family (2.71 percent).
For more information on APCO, 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.apco.co.th and www.set.or.th
For more information, please contact S-E-T Call Center 0 2229 2222