กรุงเทพฯ--23 ธ.ค.--SET
The Stock Exchange of Thailand (SET) will list Eastern Polymer Group pcl, a holding company mainly investing in innovative polymer and plastic convertor business, on December 24, under the ticker symbol "EPG” The company has a market capitalization at its initial public offering (IPO) of THB 16.24 billion (approx. USD 492.12 million).
SET Executive Vice President Chanitr Charnchainarong said, “EPG group will list in the Construction Materials sector, Property & Construction industry on SET. The company is a holding company mainly invests in the rubber insulation for construction materials industry, under “Aeroflex” brand. The company is also engaged in other businesses including auto accessories, producing and distributing its “Aeroklas” brand, as well as manufacturing and distributing high-quality plastic under “EPP” brand. EPG focuses on research and development to create innovative products with high-quality and specific features under its own trademarks.”
EPG has a paid-up registered capital of THB 2.8 billion, consisting of 2,100 million existing common shares and 700 million newly issued shares, with a par value of THB 1.00 each. During December 17-19, the company offered newly issued shares to the general public via IPO at THB 5.80 each, for a total of THB 4.06 billion. Siam Commercial Bank pcl is its financial advisor, while SCB Securities Co., Ltd. is its underwriter.
EPG Chief Executive Officer Pawat Vitoorapakorn said the fund raised would also be used for debt repayment and domestic and international business expansion. The company would focus on investment in new product development from its innovation as a result of ongoing research and development efforts.
EPG's three major shareholders after the IPO are Vitoorapakorn Group (75 percent), Social Security Office (0.37 percent) and Provident Fund of the EGAT (0.36 percent). The IPO price was set by a booking building process and equivalent to price per earnings ratio (P/E ratio) of 32.22 times. EPG’s P/E ratio was 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 0.18. The industry average P/E ratio is 15.7 (from June 13, 2013 to December 12, 2014.) Dividend policy is to pay no less than 30 percent of net profits from consolidated financial statement after taxes and reserves. For more information on EPG, 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.epggroups.com, as well as www.set.or.th .