Bangkok--30 Apr--SET
The Stock Exchange of Thailand (SET), will list PM Thoresen Asia Holdings pcl, a holding company that has a core subsidiary abroad to list on the Thai bourse, which will start trading on May 6, under the ticker symbol “PMTA”. Its foreign-based core firm is Baconco Co., Ltd., a fertilizer and crop care producer in Vietnam.
SET Executive Vice President Chanitr Charnchainarong said that PMTA would list and trade in the Petrochemicals & Chemicals sector, being listed as the second holding company on SET which has a core subsidiary company aboard. PMTA’s foreign-based core firm, Baconco, a fertilizer and crop care producer in Vietnam under the “STORK” trademark, was also an original equipment manufacturer or OEM of fertilizer for customers in more than 30 countries. In addition, Baconco also operated warehouse for rent.
PMTA has a paid-up registered capital of THB 1,012 million, consisting of 93.1 million existing common shares and 8.1 million newly issued shares, with a par value of THB 10.00. The company offered 35.42 million shares to Thoresen Thai Agencies’ shareholders during March 30 - April 3 and the remaining shares to the general public via IPO during April 20 - 22 at THB 18.00 each for a total of fund raising THB 145.8 million (approx. USD 4.42 million). CIMB Thai Bank pcl is its financial advisor, while CIMB Securities (Thailand) Co., Ltd. is its underwriter.
PMTA CEO Chalermchai Mahagitsiri said this listing reflected the market value of Baconco, the biggest privately-owned fertilizer producer in Vietnam with continuous growth and average annual profit of THB 200-300 million. The fund raised would be used for investment in space and building expansion for fertilizer and warehouse businesses, as well as for fertilizer packaging equipment and machinery to increase operational efficiency and competitive capability in the long run.
PMTA's three major shareholders after the IPO are Thoresen Thai Agency pcl (65.00 percent), Chalermchai Mahagitsiri (5.90 percent) and Raffles Resources 1 Co,Ltd (Wholly-owned by Chalermchai Mahagitsiri) (2.00 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 6.4 times, calculated by using the net profit in the past four quarters (Q1 2014 – Q4 2014) of the company and subsidiary divided by fully diluted shares, representing earnings per share of THB 2.8. The PMTA 's dividend policy is to pay no less than 25 percent of net profits after taxes , but excluded gain or loss from unrealized exchange rate. The dividend, meanwhile, depends on investment plan and related factors and not more than the rate from the accumulated profit in the financial statement.
For more information on PMTA, 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 http://pmta-th.listedcompany.com/ , as well as www.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.