Bangkok--12 Nov--SET
Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, will list Fire Victor pcl, a importer and distributor of valves and equipment for fire protection systemand valves and equipment for sanitary and air-conditioning system on November 13, under the ticker symbol "FIRE”. The company has a market capitalization at its initial public offering (IPO) of THB 1.05 billion (approx. USD 31.82 million).
mai President Prapan Charoenprawatt said, “FIRE imports and distributes fire protection equipment, including valves, sprinkler, alarm switch, as well as valves and equipment for sanitary and air-conditioning systems. It offers a wide variety of more than 3,000 product categories under over 25 well-known brands. Of these, the Company has been designated as an authorized dealer for 16 brands, by serving as a sole distributor in Thailand for two brands, namely “POTTER ELECTRIC” and “WEISS” from the United States. The company has its three house brands, namely VALTEC, SPARK and GUARDIAN catered to major clients, like high-building contractors and factories. In addition, the company also offers firefighting system installation services.
FIRE has a paid-up registered capital of THB 175 million, consisting of 260 million existing common shares and 90 million newly-issued shares, with a par value of THB 0.50. The new shares issued were offered to the general public via an initial public offering (IPO) during November 5-7 at THB 3.00 each for a total of THB 270 million. Advisory Plus Co., Ltd. is its financial advisor, while Thanachart Securities pcl and KT Zmico Securities Co., Ltd are its lead underwriter.
Virat Sukchai, FIRE's managing director, said that the fund raised would be used to launch new branch offices in key provinces to accommodate business expansion in diversified areas, and to invest in hardware equipment with SAP program in order to boost operation efficiency, as well as for debt repayment and working capital. Thus, the listing on mai would be a crucial step to enhance the company’s financial strength, image and reputation.
FIRE's three major shareholders after the IPO are Channarong group (30.00 percent), Sukchai group (29.12 percent) and Pracha Prompornchai (3.71 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 16.67 times, calculated by using the company's net profit in the past four quarters (Q3 2013 – Q2 2014) divided by fully diluted shares, representing earnings per share of THB 0.18. FIRE's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
Starting from the first trading day of 2015, mai will announce eight industry groups categorizing from their business aspects, and NCL will then be classified into SERVICE sector. For more information on FIRE, 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.firevictor.co.th , as well as www.mai.or.th.
For more information, please contact S-E-T Call Center +66 (0) 2229 2222.
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) 2229 2796.