Bangkok--18 Dec--SET
Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, will list Power Solution Technologies pcl, a power solution company, on December 19, under the ticker symbol "PSTC”. The company has a market capitalization at its initial public offering (IPO) of THB 1.43 billion (approx. USD 43.33 million).
mai President Prapan Charoenprawatt said PSTC engaged in power back-up solutions and power and environment monitoring solutions for telecommunications. The company also provided renewable energy through its subsidiaries. The company operated four plants, consisting of solar farm plants and solar rooftop plants for commercial electricity with a total capacity of 3.964 MW. In addition, PSTC also had 20 percent shares in other solar rooftop plants with a total capacity of 0.988 MW.
PSTC has a paid-up registered capital of THB 220 million, consisting of 1,750 million existing common shares and 450 million newly issued shares, with a par value of THB 0.10. The new shares were offered to the general public via IPO during December 9 and 11-12 at THB 0.65 each, for a total of THB 292.5 million. Capital Nomura Securities pcl is its financial advisor and underwriter.
Pranai Kungwalrat, PSTC’s CEO, said that the listing on mai would enhance the company’s financial strength. The fund raised would be used to invest in a bio-energy plant with 0.99 MW capacity and as working capital. PSTC’s vision is to be a leader in full-service power generating systems and power back-up solutions covering planning, advising and providing products, as well as investing in renewable energies covering solar, wind, bio, waste-to energies.
PSTC's three major shareholders after the IPO are Sommaphat Traisorat (23.86 percent), MVT Communications pcl (18.18 percent) and Pranai Kungwalrat (9.09 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 34.21 times, calculated by using the company's net profit in the past four quarters (Q4 2013 - Q3 2014) divided by fully diluted shares, representing earnings per share of THB 0.019. PSTC' s dividend policy is to pay no less than 50 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 PSCT will then be classified into RESOURCES sector. For more information on PSCT, 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.pst.com , 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.