Bangkok--Oct 15--SET
The Chairwoman of the Capital Market Opportunity Center (CMOC) and the Market for Alternative Investment (MAI), Ms. Sopawadee Lertmanaschai, said that the SET Board of Governors has approved the listing of Sherwood Chemicals Pcl.’s securities on the MAI. The securities will commence their trading from October 18, 2004, onwards, using “SWC” as their trading symbol.
SWC will list its existing 24 mln. shares plus an additional 6 mln. shares in capital increase, totaling 30 mln. shares worth THB 150 mln. (approx. USD 3.66 mln.). Each share has a par value of THB 5.00. The company sold its shares at an initial public offering (IPO) on October 7 — 8, 2004, at THB 20.00 each. Syrus Securities Pcl. acts as its financial advisor.
SWC plans to use the proceeds from its fundraising to construct a warehouse, invest in machinery, build a new factory, and use the remainder as working capital. As for the company’s dividend payment policy, SWC will pay out no less than 40% of its net profits after taxes and legal reserves.
SWC manufactures and markets about 100 chemical products under 48 trademarks including Chaindrite, Stedfast, Zypertac, Vapona, Biforce, Devatern, and Perit. Its product lines can be divided into four categories: 1) Wood Preservatives 2) Insecticides 3) Shampoos and Washing Liquids, and 4) Other Products, e.g., anti-bacteria products and deodorizers, industrial cleaning products, agro-chemical products, and multipurpose oil sprays.
The three major shareholders of SWC are the Tangkaravakoon family, Mr. Tawat Ungsuprasert, and Mr. Vorasit Kahasatien who hold respectively 36%, 16%, and 10% of the company’s paid-up capital after its IPO.
For more information on Sherwood Chemicals Pcl., please browse the company’s website, www.sherwood.co.th, the MAI’s website, www.mai.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)--