Bangkok--22 Sep--SET
Market for Alternative Investment (mai) will list Masterkool International pcl, a supplier and distributor of the misting fan, evaporative fan, and industrial and ventilation fan under the brands"MASTERKOOL" and "Cooltop" on September 23, under the ticker symbol "KOOL". The company has a market capitalization at its initial public offering (IPO) of THB 864 million (approx. USD 24 million).
mai President Prapan Charoenprawatt said that KOOL would list on mai in the Services industry group. The company engaged in the trading and sales of the misting fan, evaporative fan, and industrial and ventilation fan through various channels covering retail channels (modern trade and website), domestic dealers and international agents as well as direct selling. KOOL also provided rental services for outdoor activities in addition to offering ventilation system design and installation for factories and warehouses. KOOL's services included ozone system design and setup to provide energy savings and preserve the environment.
KOOL has a paid-up registered capital of THB 120 million, consisting of 360 million existing common shares and 120 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 September 16-18 at THB 1.80 each, for a total of THB 216 million. Trinity Securities Co., Ltd is its financial advisor and lead underwriter.
KOOL Managing Director Noppachai Veeraman said with expertise in cooling products for over 13 years, Kool's strength was based on a research and development (R&D) to enhance product innovation. The fund raised would be utilized for product development, new warehouse construction, as well as working capital for future business growth.
KOOL's three major shareholders after the IPO are Noppachai Veeraman group (26.50 percent), Mr. Fung Meng Hoi (16.91 percent) and K-SME Venture Capital Co., Ltd. (6.91 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 32.81 times, calculated by using the company's net profit in the past four quarters (July 1, 2014–June 30, 2015) divided by fully diluted shares, representing earnings per share of THB 0.05. KOOL's dividend policy is to pay no less than 40 percent of net profits (from the separate financial statement) after taxes and reserves.
For more information on KOOL, 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.masterkool.com, as well as www.set.or.th.
SET "Towards the 5th Decade of Sustainable Wealth for Thais"