Bangkok--14 Jan--SET
Market for Alternative Investment (mai), under the Stock Exchange of Thailand (SET) group, will list N.D. Rubber pcl, a motorcycle tyre producer and distributor on January 15, being the second IPO listed on mai in 2015, under the ticker symbol "NDR". The company has a market capitalization at its initial public offering (IPO) of THB 580.5 million (approx. USD 17.59 million).
mai President Prapan Charoenprawatt said NDR would list in the Industrials industry on mai. NDR was a motorcycle tyre producer and distributor of “ND Rubber” brand. The company also supplied motorcycle tyres as original equipment manufacturer (OEM) for motorcycle manufacturing both in Thailand and overseas. In addition, the company also distributed motorcycle and car batteries through its 270 motorcycle tyre agents nationwide, as well as owning an automotive rubber parts company.
NDR has a paid-up registered capital of THB 215 million, consisting of 150 million existing common shares and 65 million newly issued shares, with a par value of THB 1.00 each. The company offered 63.50 million newly issued shares to the general public and 1.50 million shares to the management and employees (excluding committee) via IPO during January 7-9 at THB 2.70 each, for a total of THB 175.50 million. Phillip Securities (Thailand) pcl is its financial advisor and underwriter.
NDR Managing Director Chaiyasit Samrittivanicha said that being listed on mai would enhance the company’s image, reputation and financial strength, as well as empowering the company to achieve its goal in market share expansion and to become among the top three Thai motorcycle tyre manufacturers. Meanwhile, the fund raised would be used for debt repayment and working capital.
NDR's three major shareholders after the IPO are Samrittivanicha Family (69.79 percent), Prongpatsakol Family (2.95 percent) and Phillip Securities PTE.,LTD. (0.93 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 11.36 times, calculated by using the company's net profit in the past four quarters (Q4 2013 - Q3 2014) of THB 51.08 million divided by fully diluted shares, representing earnings per share of THB 0.24. NDR's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on NDR, 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.ndrubber.co.th , as well as www.mai.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.