Bangkok--5 Nov--SET
The Stock Exchange of Thailand (SET) welcomes Buriram Sugar pcl, a holding company investing in sugar producer and by-products businesses, on its main board on November 6, under the ticker symbol "BRR", with a market capitalization at the initial public offering (IPO) price of THB 4.6 billion (approx. USD 142 million).
SET Executive Vice President Chanitr Charnchainarong said that BRR would be listed on SET’s Food and Beverage sector. It is a holding company that invests in Buriram Sugar Factory Co., Ltd, sugar producer and distributor, as its core company. BRR’s crushing capacity 17,000 tons cane per day of raw sugar and brown sugar. BRR also invests in other related businesses, consisting of Buriram Energy Co., Ltd., Buriram Power Co., Ltd. (bagasse-based electricity generation), Key Brand Fertilizer Co., Ltd., (fertilizer manufacturer) and Buriram Sugarcane Research and Development Co., Ltd., (an innovation in farming management through virtual farming system including developing real time farming database; thus, they could produce optimal yield)
BRR has a paid-up registered capital of THB 676.75 million, consisting of 507.57 million existing shares and 169.18 million newly-issued shares, with a par value of THB 1.00 each. The company offered the new shares through an IPO during October 29-31 at THB 6.80 per share for a total of THB 1.15 billion. KT Zmico Securities Co., Ltd. is the company's financial advisor and lead underwriter.
Anant Tangtongwechakit, BRR’s CEO said that the listing of BRR on SET would enhance the company’s image and financial strength. The fund raised would be used to expand sugar production capacity and sugar-related businesses for long-term sustainability. Moreover, BRR will strive toward excellence in business know-how and farming management to ensure raw materials security and better living conditions for sugarcane growers.
BRR's three major shareholders after the IPO are Tangtongwechakit family (74.31 percent), Yanyong Phanwongklom Group (2.95 percent) and Kaewkuar Group (0.60 percent). The IPO price was set up from book building process with a price-to-earnings ratio (P/E) of 73.44 times, calculated by using the net profit in the past four quarters (July 1, 2013 – June 30, 2014), divided by the number of fully-diluted shares, representing earnings per share of THB 0.09. BRR's dividend payment policy is no less than 50 percent of net profit after taxes and reserves.
For more information on BRR, please find the company's prospectus on the Securities and Exchange Commission's website at www.sec.or.th and general information on the company's website at www.buriramsugar.com , as well as www.set.or.th
For more information, please visit www.set.or.th .
Members of the media should contact the Public Relations Unit, Corporate Communications Dept.: Arada Kultawanich, tel: +66 (0) 2229 2796/ Kanokwan Khemmalai, tel: +66 (0) 2229 2048.