Bangkok--18 Aug--SET
The Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, will list Takuni Group pcl on August 19, under the ticker symbol “TAKUNI.” The company has a market capitalization at its initial public offering (IPO) of THB 640 million (approx. USD 24 million).
mai President Prapan Charoenprawatt said that TAKUNI and its subsidiaries supplied and distributed Liquid Petroleum Gas (LPG), as well as providing installation services in automobile and industrial systems. The company also offered inspection on LPG-related systems and operations.
TAKUNI has a paid-up registered capital of THB 200 million, consisting of 300 million existing common shares and 100 million newly-issued shares, with a par value of THB 0.50. It sold the new shares to the general public via initial public offerings (IPOs) at THB 1.60 during August 6-8 for the total of THB 160 million. Finnex Advisory Co., Ltd. is its financial advisor and Country Group Securities pcl is its lead underwriter.
Prasert Treeveeranuwat, TAKUNI’s managing director said listing on mai would help enhance the company’s image and strengthen its financial status. Proceeds of the fundraising would be used to invest in the installation of LPG service stations, under the “Champion Gas” brand, and as working capital to accommodate business expansion in the future.
TAKUNI's three major shareholders after the IPOs are Prasert Treeveeranuwat family (60 percent), Vichien Rimpanichayakij (4.50 percent) and Pranee Treeveeranuwat (3.50 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 25.54 times, calculated by using the company’s net profit in the last four quarters (April 1, 2013 – March 31, 2014) divided by fully diluted shares, representing earnings per share of THB 0.063. TAKUNI's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on TAKUNI, 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.takunigroup.com and www.mai.or.th.