Bangkok--12 Feb--SET
The Stock Exchange of Thailand (SET) welcomes Premier Products pcl to its main board, listing in the Construction Materials Sector and start trading on February 14 under the ticker symbol "PPP," after it raised THB 412.5 million (approx. USD 13.9 million) via initial public offering (IPO).
PPP manufactures and distributes products for environment protection and construction materials, including waste water treatment and water storage systems, construction materials and industrial support products, as well as products for the alternative energy business.
SET Executive Vice President Chanitr Charnchainarong, said, "Premier Products is the first listing on SET this year. Apart from its previous lines of products, the company has now expanded into environmental-friendly businesses by distributing energy-saving electric appliances and operating solar power plants.”
PPP has a paid-up registered capital of THB 300 million, consisting of 217.5 million existing shares and 82.5 million newly-issued ones, with a par value of THB 1.00 each. PPP offered 82.5 million shares via IPO on February 4-6 at THB 5.00 per share, for a total of THB 412.5 million. KGI Securities (Thailand) pcl is its financial advisor and lead underwriter.
Suradej Boonyawatana, CEO of PPP, said; “Fundraising proceeds will be used for working capital and financing its 69.92-percent-owned subsidiary, Infinite Green Co.,Ltd., which operates three solar power plants with a combined 15 MW capacity. Of the three, one has already realized income from commercial operation and the remaining two will realize such income in early second quarter of this year. The power plant investment is line with the company’s vision to be a leader of environmental protection and alternative energy businesses.”
PPP's three major shareholders after the IPO are Premier Fission Capital Co., Ltd. (61.11%), CIMB Thai Bank pcl (5.02%), and Anurakwongsri Family (4.29%). The IPO price was set at THB 5.00 per share, with a price to earnings ratio of 25 times, calculated using earnings per share at THB 0.20, with net profits based on its four-quarter performances from the fourth quarter of 2011 through the third quarter of 2012, and the 300 million fully-diluted shares after its IPO. Its dividend policy is to pay no less than 50 percent of net profits after reserves. However, the dividend payment is subject to change, depending on investment plans and future necessities.
For more information on Premier Products, 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.premier-products.in.th and www.set.or.th