Bangkok--Oct 22--SET
Syrus Securities, with THB 235 mln. in paid-up capital, will list its securities in the Financials Group, Finance & Securities Sector, using ‘SYRUS’ as its trading symbol. SYRUS is the bourse’s 39th new listing this year.
The Chairwoman of the Capital Market Opportunity Center (CMOC) and the Market for Alternative Investment (MAI), Ms. Sopawadee Lertmanaschai, disclosed that the SET Board of Governors had approved the listing on the bourse of the securities of Syrus Securities Pcl. in the Financials Group, Finance & Securities Sector. Its securities will commence trading starting from October 27, 2004 onwards, using ‘SYRUS’ as its trading symbol. TISCO Securities acts as its financial advisor.
SYRUS has THB 235 mln. (approx. USD 5.73 mln.) worth of paid-up capital. Its listed securities are comprised of an existing 175 mln. shares and an additional 60 mln. shares in capital increase, each having a par value of THB 2.00. Of its capital increase shares. SYRUS sold 54 mln. shares in its initial public offering (IPO) to the general public and sold the remaining 6 mln. shares to its directors and employees at THB 11.00 per share over October 13 — 15, 2004.
The purpose of its fundraising is for use in the expansion of its customer base and its brokerage business network, as well as enlarging its net capital rule (NCR) to cope with its investment banking, underwriting, and other businesses. It also plans to invest in a Disaster Recovery Center (DRC) and in developing some new information technology. As for its dividend payment policy, SYRUS will pay out no less than 40% of its profits after taxes and reserves.
The businesses of SYRUS can be classified into 4 distinct areas: 1) Securities brokerage business, as SYRUS is the SET’s 24th member. Its customers are classified as being the general public, as the firm doesn’t focus on any specific groups, 2) Investment banking, as SYRUS offers both financial advisory and underwriting services, 3) Investment business, and 4) Fixed Income Services, as SYRUS is a broker for the trading of debt instruments through the Thai Bond Dealing Centre.
The company’s three principal shareholders are Mr. Chatchaval Jiaravanon, Mr. Anucha Sihanatkathakul, and Mrs. Suporn Wattanavekin, who hold, after the IPO, 12.8%, 12.1%, and 11.6% of SYRUS’s paid-up capital respectively.
For more information about Syrus Securities Pcl., please browse the company’ website, www.syrus.co.th, the SET’s website, www.set.or.th, and SETTRADE.Com’s website, www.settrade.com
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