Bangkok--28 Feb--SET
The Stock Exchange of Thailand (SET) welcomes Panjawattana Plastic pcl to its Market for Alternative Investment (mai). The company will list and start trading on February 28, under the ticker symbol “PJW” after it raised about THB 403 million (approx. USD 13 million) through an initial public offering (IPO).
PJW and its subsidiaries manufacture and distribute plastic packaging in various forms, such as lubricant containers, dairy packaging bottles, chemical packaging bottles, and plastic automotive parts. It has a paid-up registered capital of THB 276 million, with a par value of THB 0.50 each. It sold 108 million new shares and offered 4 million shares to the company’s executives and employees at THB 3.60 each on February 20-22.
The fundraising proceeds will be used to buy machinery, expand plants, repay loans, and for working capital. Advisory Plus Co., Ltd. was the company's financial advisor and Finansia Syrus Securities pcl was its underwriter.
“The plastic packaging market has expanded due to the growth of various industries, particularly in consumer products. This expansion means that PJW has a high potential for growth as well. The company also offers plastic for automotive parts to partners, so this should be an attractive alternative for investment,” said Chanitr Charnchainarong, SET Executive Vice President and mai President.
Viwat Hemmondharop, PJW’s Executive Chairman, said: “We are very pleased to list on mai and utilize this fundraising channel. With our long experience and skill in producing plastic packaging and plastic for automobile parts, we believe that we will be able to cover all customer demands and continuously increase our customer base.”
The P/E ratio of the company at its IPO price was 13.85 times, while its dividend policy is to pay no less than 40 percent of net profits after taxes and legal reserves. PJW's three major shareholders after IPO are Group of Hemmontharop (70.22 percent),Group of Tantivutikul (2.36 percent), and Mr.Tawib Rittinapakorn (2.14 percent).
For more information on PJW, 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.pjw.co.th and www.set.or.th
For more information, please contact S-E-T Call Center 0 2229 2222