Bangkok--24 Oct--SET
The Stock Exchange of Thailand (SET) welcomes T.M.C. Industrial pcl to its Market for Alternative Investment (mai).The company will list and start trading on October 26, under the ticker symbol "TMC” after raising THB 347.10 million (approx. USD 11.2 million) via an initial public offering (IPO).
TMC manufactures high-quality hydraulic mechanical systems, e.g., hydraulic presses, hydraulic handling systems, and hydraulic cranes for industry, including the automotive and electronic industries.
Chanitr Charnchainarong, mai president, said: "Listing on mai enables the company to access funding to improve its production efficiency and boost growth to be in line with the development of its key automotive industry customers.”
TMC has paid-up registered capital of THB 290 million, with a par value of THB one each, consisting of 200 million existing common shares and 90 million new shares. It sold 85 million shares via IPO at THB 3.90 per share and 5 million shares to company employees at THB 3.12 per share, for a total of THB 347.10 million during October 17-19.
The fundraising proceeds will be used for business expansion and loan repayment. Finnex Advisory Co., Ltd. is the company’s financial advisor and Finansia Syrus pcl is its underwriter.
Surachet Kamolmongkolsuk, TMC managing director said: "The new capital will be used to build a new plant, repay loans, and for working capital to boost the company’s production capacity to keep up with the growth of automotive, electronic, and printing sectors, which are all key customers of TMC”
TMC's three major shareholders after the IPO are Kamolmongkolsuk Group (57.55 percent), Korkerdkiat Family (3.79 percent), and Kongwattana Family (2.10 percent). TMC has a price- earnings (P/E) ratio) of 13.74 times, calculated using earnings per share during July 1, 2011 - June 30, 2012. The company's dividend policy is to pay no less than 40 percent of net profits after corporate taxes and reserves.
For more information on TMC, 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.tmc.co.th and www.mai.or.th