Bangkok--8 Nov--SET
Market for Alternative Investment (mai) will list Applied DB pcl, a manufacturer of adhesives, sealants and plastic compound, on November 9 under the ticker symbol "ADB". The company has a market capitalization at its initial public offering (IPO) of THB 1.01 billion (approx. USD 30 million).
mai President Prapan Charoenprawatt said that ADB would list and start trading on mai in the Industrials industry group. ADB is the producer and distributor of two product lines: 1) plastic compound – which is a raw material used to produce electrical wires, cables, furniture edges, PVC pipe connectors and footwear outsoles, and 2) adhesives and sealants used for bonding applications and leak sealing for all industries and households. The products are supplied to both local and foreign customers under the company's own brands and original equipment manufacturers (OEMs) for leading brands recognized at international level.
ADB has a paid-up registered capital of THB 300 million, consisting of 420 million existing common shares and 180 million newly issued shares, with a par value of THB 0.50 each. It offered the entire newly issued shares through IPO to general public at THB 1.69 each, for a total of THB 304.2 million, during November 1-3. RHB Securities (Thailand) pcl is its financial advisor and lead underwriter.
ADB Chief Executive Officer Wang Wanapaison said that over the past 12 years the company has been committed to manufacturing and supplying internationally accepted quality products. The company has a research and development or R&D team to catering to customer demand, developing new products to meet future growth of potential market. The fund raised will be used to purchase new machinery and equipment for business expansion, repay debts to financial institutions, and for R&D of both product lines and as working capital.
ADB's three major shareholders after the IPO are Rattanachai Wongcharoensin Group (25.28 percent), Wang Wanapaison Group (21.48 percent) and Pawat Wongtangtrakul Group (15.75 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 28.03 times calculated by using the company's net profit totaling THB 36.17 million in the past four quarters (July 1, 2016-June 30, 2017) divided by fully diluted shares, representing earnings per share of THB 0.06. ADB's dividend policy is to pay no less than 30 percent of net profit from the company's separate financial statement, after corporate income tax and legal reserves.
For more information, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th ; and for general information, please visit www.adb.co.th , as well as www.set.or.th .