Bangkok--12 Oct--SET
The Stock Exchange of Thailand (SET) will list SCI Electric pcl, a producer and distributor of electrical switch board, transmission tower and telecommunication tower, and a service provider of high voltage transmission line system and power distribution system, on October 13, under the ticker symbol "SCI". The company has market capitalization at its initial public offering (IPO) of THB 4.43 billion (approx. USD 122 million).
SET Executive Vice President Santi Kiranand said that SCI would list and start trading on SET's Resources industry group, Energy & Utility sector. The company's four main businesses covered 1) producing and selling electrical switch board, cable tray and supporting system; 2) producing and selling transmission tower, telecommunication tower, galvanized steel structure, and providing galvanized service; 3) generating and distributing electricity from hydropower plants in Laos; and 4) providing services for high voltage transmission line system and power distribution system.
SCI has a paid-up registered capital of THB 750 million, consisting of 562.5 million existing common shares and 187.5 million newly-issued shares with a par value of THB 1.0 each. It offered 9.38 million newly issued shares to executives, directors and employees as well as 178.12 million shares to the general public via IPO, at THB 5.90 each, for a total of THB 1.1 billion, during October 5-7, 2015. Phillip Securities (Thailand) pcl is its financial advisor and underwriter.
SCI's CEO Kriangkrai Pheanvitayaskul said the fund raised would be used for debt repayment, as well as to invest in wind power plants, build transmission tower and telecommunication tower factory in Myanmar as part of expanding production capacity in ASEAN to serve the growing demand.
SCI's three major shareholders after the IPO are Phruttinarakorn Family (64.61 percent), AG Ajikawa Corporation (3.52 percent), and Yanisrangkul Family (3.38 percent). The IPO price was equivalent to price-to-earnings (P/E ratio) of 11.33 times. SCI's P/E ratio was calculated by using the company's net profit in the last four quarters (Q3/2014–Q2/2015) divided by fully diluted shares, representing earnings per share of THB 0.52. SCI'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 SCI, 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.sci-mfgr.com , as well as www.set.or.th .
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