Bangkok--Oct 12--SET
Group Lease Pcl. will list in the SET’s Financials Group, Finance & Securities Sector, with THB 225 mln. (approx. USD 5.63 mln.) worth of paid-up capital. It will spend the proceeds to expand its credit business, service its debts and as its working capital.
The Chairwoman of the Capital Market Opportunity Center (CMOC) and the Market for Alternative Investment (MAI), Ms. Sopawadee Lertmanaschai, announced that the SET Board of Governors approved the listing on the Exchange of Group Lease Pcl.’s shares in the Financials Group, Finance & Securities Sector. These securities will commence trading on the bourse from October 13, 2004, onwards using “GL” as their trading symbol. Siam City Securities Co., Ltd. acts as the company’s financial advisor.
Group Lease Pcl. has THB 225 mln. (approx. USD 5.63 mln.) worth of paid-up capital, comprised of an existing 35 mln. shares plus an additional 10 mln. shares in capital-increase, each with a par value of THB 5.00. On October 4-5, GL sold its initial public offering (IPO) shares at THB 12.00 per share. The company plans to spend the proceeds to expand its credit business, service its debts and as its working capital. As to its dividend payment policy, GL will pay out no less than 40% of its net profits after legal reserves.
GL’s major businesses can be categorized as 1) Motorcycle hire purchase services, which currently accounts for 80% of the company’s total revenues, 2) Personal loan services to its existing customers, and 3) Asset financing (computers and electrical appliances), also to its existing customers. The majority of GL’s customers are in the medium- to low-income brackets.
The three major shareholders of GL are Mr. Khanchai Boonpan, Mr. Samart Chiradamrong, and the Bank of Ayudhya Pcl. Group, which respectively hold 28.42%, 9.02%, and 8.89% of the company’s paid-up capital after the IPO.
For more information about Group Lease Pcl., please browse the company’s website, www.grouplease.co.th, 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)--