Bangkok--17 Oct--SET
Market for Alternative Investment (mai) will list Selic Corp pcl, a company specializing in industrial adhesive, on October 18, under the ticker symbol "SELIC". The company has a market capitalization at its initial public offering (IPO) of THB 812 million (approximately USD 23 million).
mai President Prapan Charoenprawatt said that SELIC would list and start trading on mai in the Industrial industry group. SELIC produced and distributed high performance industrial adhesives, whileproviding industrial adhesive research and development services. The products were distributed to domestic market and more than 27 countries worldwide under its own brands namely, VEGAMELT, INTENSITY, MINERVA, TORA, ICETECH, DELTABOND, WORLD, ZICCO, RHINO, TUFF KIT, and more. The company's products consist of solvent-based, water-based and hot-melt adhesives and other chemical related products.
SELIC has a paid-up registered capital of THB 140 million, consisting of 200 million existing common shares and 80 million newly issued shares, with a par value of THB 0.50 each. During October 10-12, 2016 it offered newly issued shares to the general public via IPO at THB 2.90 each, for a total of THB 232 million. Asset Pro Management Co., Ltd. is the financial advisor, while Capital Nomura Securities pcl is the underwriter.
SELIC Chief Executive Officer Ek Suwatthanaphim said SELIC has focused on research and development employing cutting-edge technologies and innovations to develop products responding to customer needs. This listing would strengthen SELIC's credibility and financial capability to enhance SELIC's business opportunity. The fund raised would be used for investing in new equipment for research and development, developing production system, renovating building, investing in enterprise resource planning system to boost business operational efficiency, and working capital.
SELIC's three major shareholders after the IPO are Suwatthanaphim Group (67.50 percent),Wongkusolkij Group (2.00 percent) and Supawat Likitthanawong (1.22 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 19.33 times calculated by using the company's net profit in the past four quarters (July 1, 2015 – June 30, 2016) of THB 42.26 million, divided by fully diluted shares, representing earnings per share of THB 0.15. SELIC's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on SELIC, 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.seliccorp.com , as well as www.set.or.th.
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