Bangkok--20 Feb--SET
The Stock Exchange of Thailand (SET) will list Scan Inter pcl, a company engaged in natural gas-related businesses, on February 23, under the ticker symbol "SCN". The company has a market capitalization at its initial public offering (IPO) of THB 6 billion (approx. USD 181.82 million).
SET Executive Vice President Chanitr Charnchainarong said that Scan Inter pcl would list in the Energy & Utilitiessector on SET. The company provided services in natural gas-related businesses, covering design, installation, contract and maintenance of NGV equipment for NGV station. The firm also operated the compression and transportation of gas to PTT stations, installs NGV-equipment for vehicles, supplied compressed natural gas to industrial factories, as well as being a car dealership.
SCN has a paid-up registered capital of THB 600 million, consisting of 900 million existing common shares and 300 million newly issued shares, with a par value of THB 0.50 each. During February 16-18, the company offered newly-issued shares to the general public via IPO, at THB 5 each, for a total of THB 1.5 billion. Kasikorn Securities pcl is its financial advisor and underwriter.
SCN Chief Executive Officer and Managing Director Thanchart Kitpipit said the company’s strength was innovation and research and development, owning patent rights of many inventions. This listing would strengthen the company’s financial status. The fund raised would be used to expand business and to create sustainable revenue, aiming at becoming a leading innovative technology energy firm in Asia Pacific.
SCN’s three major shareholders after the IPO are Kitpipit group (73.89 percent), Cholkadeedumrongkul group (0.91 percent) and Noppadon Sanguthai (0.53 percent).The IPO price was set by a booking building process at a range of THB 4.7 – 5.0 per share and equivalent to price per earnings ratio (P/E ratio) of 30.34 times. SCN's P/E ratio was calculated by using the company's net profit in the past four quarters (Q4 2013 - Q3 2014), excluding profitfrom selling shares of solar power plant, divided by fully diluted shares, representing earnings per share of THB 0.16. SCN’s dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on SCN, 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.scan-inter.com , as well aswww.set.or.th .
Members of the media please contact the Public Relations Unit, Corporate Communications Dept.:Arada Kultawanich tel: +66 (0) 2229 2796 / Darawan Maleesri tel: +66 (0) 2229 2798 / Kanokwan Khemmalai tel: +66 (0) 2229 2048.