Bangkok--Dec 3--SET
Goldfine Manufacturers Pcl., a jewelry producer and exporter, has raised funds through the Market for Alternative Investment (mai) to increase its production capacity, expand its market base and repay its short-term debts, with any remaining funds to be used as working capital.
The President of the mai, Mr. Vichate Tantiwanich, said that the Board of Governors of The Stock Exchange of Thailand (SET) has approved the listing of Goldfine Manufacturers Pcl.’s 150 mln. shares on the mai. The shares each have a par value of THB1.00, giving the company a total of THB150 mln. These securities will commence trading from December 7, 2004, onwards, using “GFM” as their trading symbol.
GFM has THB150 mln. in paid-up capital. Its holdings are comprised of 120 mln. existing shares and 30 mln. shares in capital increase, each with a par value of THB1.00. GFM sold the capital increase portion (20% of its capital base after capital increase) to the public at THB6.20 per share, on Nov. 25-26, 2004. The fundraising proceeds will be used to increase its production capacity, expand its market base and repay its short-term debts with any remaining funds to be used for its working capital. Syrus Securities Pcl. acted as its financial advisor.
GFM is a producer and exporter of jewelry products, e.g., rings, pendants, earrings, bracelets, necklaces, and pins. Its main export destinations are in Europe (72% of total sales) and North America (26% of total sales). GFM receives privileges on its import and export taxes as well as any value-added taxes levied on it, as its factory is located in Export Zone 3 of the Lat Krabang Industrial Estate. As for GFM’s dividend payment policy, it will pay out no less than 40% of its net profits after taxes and legal reserves.
The major shareholder of GFM after the IPO is the Taechamathavorn group, who collectively holds 71.65% of the company’s paid-up capital.
For more information on Goldfine Manufacturers Pcl., please browse 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.