Bangkok--10 Nov--SET
Market for Alternative Investment (mai) will list Siamraj pcl, a company engaged in natural gas-related businesses, on November 11, under the ticker symbol "SR" as it met listing requirement following market capitalization criteria. The company has a market capitalization at its initial public offering (IPO) ofTHB 2.1 billion (approx. USD 58.3 million).
mai President Prapan Charoenprawatt said that SR would list and start trading on mai in the Resources industry group on November 11. The company provided three main services in natural gas-related businesses, covering 1) construction and installation of flow measuring systems and pipelines of natural gas; 2) operation, design, installation, maintenance, and management and service of natural gas stations; 3) design and sales of engineered pumps and system and related engineered equipment for industrial factories and power plants.
SR has a paid-up registered capital of THB 300 million, consisting of 450 million existing common shares and 150 million newly issued shares, with a par value of THB 0.50 each. During November 4-6, it offered 150 million shares to the general public at THB 3.50 each, for a total of THB 525 million. RHB Securities (Thailand) pcl was its financial advisor and underwriter.
SR Chief Executive Officer Kiat Vimolchalao said the listing would strengthen the company's financial capabilities.The fund raised would be used for project investment and working capital, responding to the industry growth as the demand for natural gas consumption was expected to increase as a result of the government's plan to expand natural gas pipeline routes, and boost electrical generation. This was a great opportunity for SR to grow itsbusiness in the future.
SR's three major shareholders after the IPO are Vimolchalao family (60.18 percent), Neesanun family (9.60 percent), and Anant Siripurikarn (3.00 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 15.05 times calculated by using the company's net profit (without using Q4/2014 accounting adjustment resulting the company's loss) in the past four quarters (Q3/2014-Q2/2015), divided by fully diluted shares, representing earnings per share of THB 0.23. SR's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on SR, 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.siamrajplc.com, as well aswww.set.or.th.
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