Bangkok--6 Nov--SET
The Stock Exchange of Thailand (SET) welcomes WHA Corporation pcl to its main board. The company will list in the property development sector and start trading on November 8 under the ticker symbol "WHA," with a market capitalization at the initial public offering (IPO) price of THB 6.76 billion (approx. USD 218 million).
WHA is a developer of factory and warehouse centers, aiming to provide world-class distribution centers and factories with a built-to-suit strategy.
"WHA is well-known as a logistics provider building premium grade warehouse and distribution centers using the built-to-suit pattern. WHA is mostly located on main logistical routes with easy access to Bangkok’s Suvarnabhumi International Airport or Laemchabang deep-sea port, or on other main routes conveniently linking to main transportation hubs, such as at Bangna-Trad highway 18-20 km.," said SET Executive Vice President Chanitr Charnchainarong.
The company has a paid-up registered capital of THB 510 million, consisting of 380.60 million existing shares and 129.40 million newly-issued shares with a par value of THB 1.00 each. WHA offered 129.40 million shares via IPO on October 31-November 2 at THB 13.25 per share, for a total of THB 1.71 billion. The fundraising proceeds are for working capital, with Siam Commercial Bank pcl as financial advisor, and Kasikorn Securities pcl as financial advisor and underwriter, while SCB Securities Co., Ltd is underwriter too.
Dr.Somyos Anantaprayoon, President & CEO of WHA Corporation, said; "Selling the company’s shares to the general public and listing on SET is another crucial step in raising funds for the company. This will help boost our potentiality and financial strength to cope with business expansion. We have committed to maintain our reputation in developing premium grade built-to-suit projects and aim to be among the top in Asia in our field.”
WHA’s three major shareholders after the IPO are the Anantaprayoon family (66.84%), Jarukornsakul family (2.51%) and Mr.Surachai Thipanamchai (1.12%). The IPO price at THB 13.25 per share came from a book building, setting at a price of THB 12.75-13.25 per share. WHA has a price to earnings ratio (P/E) ratio) of 30.81 times, calculated using earnings per share at THB 0.43 which net profits based on its 12-months performance during July 1, 2011 - June 30, 2012, while using 510 million fully diluted shares after IPO. Its dividend policy is to pay no less than 40 percent of net profits after reserves.
For more information on WHA, 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.wha.co.th and www.set.or.th