Bangkok--4 Apr--SET
The Stock Exchange of Thailand (SET) welcomes Golden Lime pcl, Thailand’s leading lime manufacturer, on its main board, on April 3, under the ticker symbol "SUTHA," with a market capitalization at the initial public offering (IPO) price of THB 1.11 billion (approx. USD 34.3 million).
SET Executive Vice President Chanitr Charnchainarong said that SUTHA would be listed in SET's Petrochemicals and Chemicals sector, the third new listing on SET this year. SUTHA produces and distributes lime (calcium oxide and calcium hydroxide) and calcium carbonate, which are widely used in production process of various industries, such as steel, chemical, sugar, mine, and pulp and paper industries. SUTHA has a paid-up registered capital of THB 300 million, consisting of 225 million existing shares and 75 million newly-issued shares, with a par value of THB 1.00 each. The company offered the newly-issued shares through an IPO at THB 3.70 per share during March 26-28, for the total of THB 1.11 billion. KT Zmico Securities Co., Ltd. is the company’s financial advisor and lead underwriter. Kiatikul Monsereenusorn, Managing Director of Golden Lime pcl, said that this was a crucial step for the company to grow sustainably after selling its shares to the general public and listed on SET. The fund raised would be used to expand production capacity, invest in coal breaker and system to accommodate business expansions domestically and internationally in the future, as well as for lime-relevant business investment. The company has recently signed a memorandum of agreement with Indonesia’s state-owned leading steel producer to study a possibility to set up a joint venture, in order to run quicklime business in Indonesia. SUTHA's three major shareholders after the IPO are Monsereenusorn’s Family (70.17%), Ms. Tongrak Kitwattanachai (1.67%), and Ms. Nutthiya Tongcharoen (1.17%). The IPO price had a price-to-earnings ratio (P/E) of 11.00 times, calculated using net profits over the past four quarters (from Q1-Q4 2013), divided by the number of fully-diluted shares, representing earnings per share of THB 0.34. The P/E ratio was lower than 13.8 times, an average P/E ratio of peers operating the similar business (during March 7, 2013 – March 7, 2014). SUTHA’s dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.For more information on SUTHA, 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.goldenlime.co.th and www.set.or.th . SET Group: “Matching Your Right Financial Opportunities”
For more information, please visit www.set.or.th
Members of the media should contact the Public Relations Unit, Corporate Communications Dept.:
Kanokwan Khemmalai, tel: +66 (0) 2229 2048 / Arada Kultawanich, tel: +66 (0) 222 2796