Bangkok--26 Aug--SET
Market for Alternative Investment (mai) will list ATP30 pcl, a shuttle service provider for employees in Thailand’s eastern industrial estate zone, on August 27, under the ticker symbol "ATP30". The company has a market capitalization at its initial public offering (IPO) price of THB 418 million (approx. USD 12 million).
mai President Prapan Charoenprawatt said that ATP30 would list in the services industry group on mai. With more than ten years of experience in providing employee shuttle bus for leading corporations in Thailand, the companywith its own fleet of 135 vehicles consisting of 125 busses, 2 minibuses and 8 vans, while operating 98 affiliated vehicles. With its tracking system fully equipped with modern global positioning system (GPS), the company could manage its service quality and operating cost.
ATP30 has a paid-up registered capital of THB 110 million, consisting of 280 million existing common shares and 160 million newly issued shares, with a par value of THB 0.25 each. The company offered newly issued shares to the general public via IPO during August 19-21 at THB 0.95 each, for a total of THB 152 million. Asset Pro Management Co., Ltd. is its financial advisor while Capital Nomura Securities pcl is its lead underwriter.
ATP30 Managing Director Piya Techakul said that ATP30 has been committed to continuous quality service development. To maximize customer safety and conveniences, the newly-launched buses would be designed with high standard engineering, while bus drivers had to be carefully selected and constantly trained. The fund raised would be used for bus line expansion, training and driving center development, bus operation technology development, renovation of bus maintenance center in Chonburi province (in the service zone, eastern part of Thailand), as well as debt repayment and working capital.
ATP30’s three major shareholders after the IPO are Piya Techakul group (22.27 percent), Panichewa group (19.09 percent) and Kromadit group (15.64 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 61.69 times, calculated by using the company's net profit in the past four quarters (April 1, 2014–Mar 31, 2015) divided by fully diluted shares, representing earnings per share of THB 0.0154. ATP30's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on ATP30, 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.atp30.com , as well as www.set.or.th.