Bangkok--31 Aug--SET
The Stock Exchange of Thailand (SET) will list Triple i Logistics pcl, an integrated logistics service provider, on September 1, under the ticker symbol "III". The company has a market capitalization at its initial public offering (IPO) of THB 2.9 billion (approx. USD 85.3 million).
SET Senior Executive Vice President Santi Kiranand said that III would list on SET in the Services industry, Transportation & Logistics sector. III, a leading one-stop logistics service provider with more than 25 years of experiences and professional staff, provides four categories of services, which are air freight; sea freight and inland transport; logistics management; and chemical & specialty logistics services, serving both domestic and international customers.
III has a paid-up registered capital of THB 302.25 million, consisting of 440 million existing common shares and 164.5 million newly issued shares, with a par value of THB 0.50 each. It offered 160 million newly issued shares to general public during August 23-25, and 4.5 million newly issued shares to employees, at THB 4.80 each, for a total of THB 789.60 million. CIMB Thai Bank pcl is the financial advisor, while CIMB Securities (Thailand) Co. Ltd. is its underwriter.
III Chief Executive Officer Tipp Dalal said that the company foresees opportunities for our business growth, based on many positive factors especially the government's stimulus for small and medium-sized enterprises (SMEs) including the megaproject investment plan, which will lead to the growth of many industries, as well as the economic growth in ASEAN. We plan to invest in various projects such as Donmueng airport cargo terminal project; warehouse and domestic container transport services expansion; logistics and inventory management to cater to the growth of e-commerce; and warehouse and truck fleet expansion for specialty products, among others. The fund raised would be used to finance the business expansion projects, strengthen III's business and generate substantial returns for all shareholders.
III's three major shareholders after the IPO are Tipp Dalal (23.39 percent), Viraj Nobnomtham (17.86 percent) and Teeranit Isarangkul Na Ayudhaya (10.04 percent). The IPO price was set by a book building process, equivalent to price-to-earnings ratio (P/E ratio) of 22.66 times calculated by using the company's net profit in the past four quarters divided by fully diluted shares, representing earnings per share of THB 0.21. III's dividend policy is to pay no less than 40 percent of net profit after reserves under the condition that such dividend payment is related to the investment plan, other necessities and suitabilities in the future.
For more information on III, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visitwww.iii-logistics.com, as well as www.set.or.th.