Bangkok--Nov 5--SET
Pacific Pipe Pcl. (PAP), with THB 653 mln. in paid-up capital, will list in the Property & Construction Group. As for the use of its new funds after the initial public offering, PAPit will launch its distribution center project on the Bangna-Trad Road, repay part of its debts, and use the remaining as working capital.
The Chairwoman of the Capital Market Opportunity Center (CMOC) and the Market for Alternative Investment (MAI), Ms. Sopawadee Lertmanaschai, (…..is she still chair of MAI? shouldn’t announcements be coming from K. Vichate, as the new Pres.?.... disclosed that the SET Board of Governors has approved the listing on the bourse of Pacific Pipe Public Co., Ltd. in the Property & Construction Group, Building & Furnishing Materials Sector. Its securities will commence trading November 8, 2004 onwards, using ‘PAP’ as their trading symbol.
The listed securities of Pacific Pipe Pcl. are comprised of an existing 50 mln. shares and an additional 15.3 mln. shares in capital increase, each having a par value of THB 10.00., This gives PAP’s securities ahence totaled worth of THB 653 mln. The company sold its capital increase shares atin its initial public offering (IPO) on October 26-29, 2004, at THB 45.00 per share. The fundraising proceeds from fundraising will be used to launch PAP’sits distribution center project on Bangna-Trad Road, repay part of its debts, with theand remainder to serveto use the remaining as the company’s working capital. As for its dividend payment policy, PAP will pay out no less than 40% of its profits after taxes and reserves.
Pacific Pipe Pcl. engages in manufacturing and distributing steel pipes, for general work as well as and construction work, usingunder an Electric Resistance Welded (ERW) production. Its two main product lines are 1) Black Steel Pipe produced under the “Pacific Pipe” brand for standard grade pipes and the “Tamose” brand for commercial grade pipes, and 2) Galvanized Steel Pipe under the “G-Con” brand. The majority of its clients are in the domestic market, accounting for 70% of the company’s total sales. The remaining 30% was generated from exports to Singapore, Hong Kong, Australia, New Zealand, and severalthe Middle East countries.
The company’s major shareholders are the Lekapojpanich family and Tang Mong Seng Holding Co., Ltd. who collectively hold 75.80% of PAP’s paid-up capital after the IPO.
For more information about Pacific Pipe Pcl., please browse the company’s website, www.pacificpipe.co.th, the SET’s website, www.set.or.th, or SETTRADE.Com’s website, www.settrade.com
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