Bangkok--12 Nov--SET
Market for Alternative Investment (mai) will list Raja Ferry Port pcl, a leader of ferry service for carriage of passengers and water transport in the gulf of Thailand, on November 12, under the ticker symbol "RP." The company has a market capitalization at its initial public offering (IPO) of THB 2.04 billion (approx. USD 56.7 million).
mai President Prapan Charoenprawatt said that RP would list and start trading on mai in the Services industry group. RP has 12 ferries provided in two routes for both scheduled and charter services in Surat Thani, a southern province of Thailand, and also owned two private ports as well as operating restaurants, coffee shops and convenient stores to maximize passengers' convenience.
RP has a paid-up registered capital of THB 170 million, consisting of 132 million existing common shares and 38 million newly issued shares, with a par value of THB 1.00 each. During November 4-6, it offered newly issued shares to the general public at THB 12.00 each, for a total of THB 456 million. Triple A Plus Advisory Co., Ltd. was the financial advisor, while Asia Wealth Securities Co., Ltd. was its lead underwriter.
RP Managing Manager Apichart Chayopas said that RP focused on continuous quality development of its ferry services from ensuring maintenance for safety and lawful operations, qualified staff according to the government regulatory compliance including annual training and emergency practice drill. This listing on mai would strengthen the company's financial capabilities, enabling the company to buy new ferries to cope with industry demand, as well as for debt repayment and working capital.
RP's three major shareholders after the IPO are Chayopas family (67.23 percent), Tangpraprutgul family (7.18 percent), and Kiatsak Yuenyong (1.62 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 27.91 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 0.43. RP's dividend policy is to pay no less than 30 percent of net profits after taxes and reserves.
For more information on RP, 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.rajaferryport.com , as well as www.set.or.th.
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