Market for Alternative Investment (mai) will list Leo Global Logistics pcl, an end-to-end logistics solution provider with network across the globe, on November 5, under the ticker symbol "LEO". The company has a market capitalization at its initial public offering (IPO) of THB 1.094 billion (approx. USD 34.85 million).
mai President Prapan Charoenprawatt said that LEO would list and start trading on mai in Services industry group.
LEO provides end-to-end logistics solutions with network worldwide consisting of international freight forwarding by air and sea, and integrated logistics and transportation services including LEO Self-Storage, as well as investing in other businesses related to its core business. Currently LEO has two subsidiaries: a 50 percent-owned subsidiary, YJC Depot Services Co., Ltd. (YJCD), providing container depot and repair services; and an 80 percent-owned subsidiary, Leo Myanmar Logistics Co., Ltd. (LML), providing end-to-end logistics service in Myanmar.
LEO has a registered paid-up capital of THB 160 million, consisting of 200 million existing common shares and 120 million newly issued shares, with a par value of THB 0.50 each. It offered newly issued shares via IPO to public, of which 90 million shares were allocated to the persons under the discretions of the underwriters, 18 million shares to the company?s patrons, and 12 million shares to the company?s directors, managements and/or employees at THB 3.42 each, for a total of THB 410.40 million, during October 28 - 30, 2020. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 27.40 times, calculated by using the company?s net profit in the past 4 quarters (July 1, 2019 - June 30, 2020) of THB 39.95 million, divided by fully diluted shares, representing earnings per share of THB 0.1248. Trinity Securities Co., Ltd. is its financial advisor and lead underwriter.
LEO Chief Executive Officer Kettivit Sittisoontornwong said the company has experience and expertise in logistics system management, gaining trust from customers and business partners as a logistics solution provider for over 29 years. The company?s strategic plan is to expand the network through business alliances in both local and international markets. Listing on mai will strengthen the company?s capital base. The fund raised will be used to expand LEO Self-Storage and E-Fulfillment Center business, develop border transit system to Myanmar and increase container depot space, for joint investments with business partners, and as working capital.
After the IPO, LEO?s three major shareholders are Kettivit Sittisoontornwong (22.65 percent) and Somsak Srisuthatkul (9.17 percent) and TSC Holding Co., Ltd. (8.64 percent). The company?s dividend policy is to pay no less than 40 percent of net profit after corporate income tax from the company?s separate financial statement, legal reserves and other types of reserves in compliance with the company?s an subsidiaries? regulations.
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.leogloballogistics.com and www.set.or.th.