Bangkok--Dec 13--SET
Bliss-Tel Pcl., a leading seller of telecommunication devices and accessories, will be listed in the Technology sector on December 13, 2004. Thainox Stainless Pcl., the sole producer and distributor of cold rolled stainless steel products in Thailand will begin trading on The Stock Exchange of Thailand in the Property and Construction sector on December 14, 2004. It is expected that both companies’ shares will increase the total market capitalization by more than THB18 bln.
SET Executive Vice President Ms. Sopawadee Lertmanaschai disclosed that during the second week of December, The Stock Exchange of Thailand (SET) will commence trading the ordinary shares of Bliss-Tel Plc. and Thainox Stainless Plc. on its bourse. Bliss-Tel will be traded in the Technology sector, under the Communication group, on December 13, 2004 and use the symbol “BLISS”.
Meanwhile, Thainox Stainless Plc will be traded in the Property and Construction sector, under the Building and Furnishing Materials group, on December 14, 2004, and will be given the symbol “TNX”. The listing of these 2 shares is expected to increase the market capitalization by THB18.226 bln. (calculated by taking into account 230 mln. shares of BLISS at the IPO price of THB6.20 per share, and 8 bln. shares of TNX at the IPO price of THB2.10 per share).
BLISS has a paid-up registered capital of THB230 mln, which consists of its original 150 mln. shares of common stock plus an additional 80 mln. shares in capital increase at the par value of THB1.00 per share. During November 29-30, 2004, BLISS raised funds by offering 80 mln. shares in capital increase, including 64 mln. shares to the public and 6 mln. shares to the Network Management Solution, which is the company’s original shareholder, at THB6.20 per share. Another 10 mln. shares were sold to the company’s executives, management team and employees at the price of THB4.00 each. The proceeds will be used to settle parts of its loans, expand its branches, and to be used as its working capital. Finansa Securities Co. Ltd. acted as BLISS’ financial advisor.
BLISS’ business is the sales of telecommunication devices, and the company offers several products and services which can be divided into; 1) Mobile phones: as a dealer for all existing brands of mobile phones, 2) SIM & refill cards, and 3) Phone accessories. More than 80% of the company’s income is derived from its mobile phones business. BLISS' dividend payout policy is set at no less than 40% of available cash after its legal debt provision requirements.
After its initial public offering, BLISS’s 3 largest shareholders are Network Management Solution, which holds 18.26% of its shares, the Kemachuntree Group which carries 14.43%, and Audiovox Corporation, which holds 13.04% of its paid-up capital.
For TNX, the company has paid-up registered capital of THB8 bln., consisting of its original 7,670,411,666 shares of common stocks plus 329,588,334 shares in capital increase, which gives it a total of 8 bln. shares at the par value of THB1.00 per share. TNX offered its shares to the public, which were comprised of 329,588,334 shares in capital increase and 2,170,411,666 of its original shares of common stock at THB2.10 per shares during November 30 and December 3, 2004., Of the 2,170,411,666 original shares offered to the public, 1,967,348,916 are held by Lakewood Real Estate Co.Ltd., 113,000,000 shares are held by Lakewood Country Club Co. Ltd., 67,000,000 shares are held by Thai Film Industries Pcl., and 23,062,750 shares are held by Mr. Wanchai Kunanantakul, The proceeds from the share offering will be used as the company’s working capital. Tisco Securities Company Limited was its financial advisor.
TNX is the producer and seller of cold rolled stainless steel products, used for various industrial purposes, under the trademark “THAINOX”. It is the sole producer in Thailand and a leading producer in ASEAN. 56% of its business is centered in Thailand, while the remaining 44% comes from overseas markets. TNX’s major export markets are China, Australia, the Middle East, and North America. In the future, TNX wants to further increase its domestic market share while expanding its foreign market base. The company also wants to develop its production technology to become more efficient. TNX has a policy to pay a minimum of 50% of its net profit after taxes and its legal and other reserves are withheld as stipulated by the company.
After its initial public share offering, TNX’s major shareholder is the Mahakijsiri Group with 65.30% shares held. The group’s holdings can be divided into 1) 39.16% held by Lakewood Real Estate Co. Ltd., 2) 24.20% by Mr. Prayut Mahakijsiri, and 1.94% by Lakewood Country Club Co. Ltd.
For more information on BLISS and TNX, please visit www.blisstel.com and www.thainox.co.th, as well as the SET’s website, www.set.or.th, and the 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.