Bangkok--Sep 15--SET
Samchai Steel Industries Pcl. will commence trading in the Property & Construction Group, Building & Furnishing Materials Sector, after successfully selling its 30 mln. shares in its initial public offering on September 2 — 3. The company plans to use the additional funds to purchase machinery for producing a new product line.
The Chairwoman of the Capital Market Opportunity Center (CMOC) and Market for Alternative Investment (MAI), Ms. Sopawadee Lertmanaschai, disclosed that the SET Board of Governors has approved the listing on the Exchange of Samchai Steel Industries Pcl.’s securities in the Property & Construction Group (Building & Furnishing Materials Sector). Trading will start from September 15, 2004 onwards and the Company will use “SAM” as its trading symbol.
Samchai Steel Industries Pcl. has a total of THB 550 mln. in paid-up capital, comprised of 110 mln. shares (existing 80 mln. shares and 30 mln. shares in capital increase), each with a par value of THB 5.0. The Company raised funds through its initial public offering (IPO) by selling its capital-increase shares at THB 10 per share on September 2 - 3. It will use the fundraising proceeds to purchase new machinery for producing its new product line, large black steel pipe, as well as producing round, square and rectangular tubes in larger sizes. It has Seamico Securities Pcl. as its financial advisor. As to its dividend payment policy, it will pay out 40% of its net profits after corporate taxes.
SAM’s principal business is engaged in producing steel pipes for use in the construction and furniture industries. The company produces structural steel pipes, which include an assortment of black steel, square and rectangular steel, vanished steel, high-pressure steel and lip channel steel pipes. In addition, the company also produces galvanized steel pipes, steel tubes for furniture and hot rolled steel sheets under the its own trademarks “SAMCHAI” and “SSH”.
The two major shareholders of SAM are the Leelachaicharoenphan family and the Shinthammitr family, holding 32.15% and 29.71% respectively of the company’s paid-up capital after IPO.
For more information on Samchai Steel Industries Pcl., please browse the company’s website, www.samchaisteel.com, the SET’s website, www.set.or.th, or SETTRADE.COM’s website, www.settrade.com
For more information, please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kulvida Jintakawong Tel: 0-2229-2037 / Nattaporn Boonprapa Tel: 0-2229-2049 End.
--InfoQuest (NT)--