Bangkok--Dec 15--SET
Polyplex (Thailand) Pcl., a producer and distributor of thin PET (polyethylene terephthalate) film primarily for export markets, and United Paper Pcl., a manufacturer and distributor of Kraft paper for the packaging industry, will both list their shares in the Industrials Group and commence trading on Dec.15 and 16, respectively.
SET Executive Vice President Ms. Sopawadee Lertmanaschai disclosed that the SET Board of Governors has approved the listings of Polyplex (Thailand) Pcl. and United Paper Pcl. on the bourse.
Polyplex (Thailand) Pcl. has THB800 mln. worth of paid-up capital. Its shares are comprised of 560 mln. existing shares and 240 mln. shares in capital increase, each with a par value of THB1.00. Polyplex’s securities will be listed in the Industrials Industry Group, Packaging Sector, and commence trading from Dec.15, 2004 onwards using “PTL” as their trading symbol.
PTL sold its shares in its initial public offering (IPO) at THB6.90 per share during Nov.30 — Dec.1, 2004. The fundraising proceeds will be used to purchase machinery to expand the company’s production capacity, repay its debts to financial institutions, and as working capital. Advisory Plus Co., Ltd. acts as PTL’s financial advisor.
PTL produces and distributes PET films for export. It is supported by its major shareholder, Polyplex Corp. Ltd. (PCL), which is listed on the Bombay Stock Exchange and the National Stock Exchange of India. PTL also received BOI (Board of Investment) privileges in 2002 and 2003. As for its dividend payment policy PTL will pay out 40% of its net profits after taxes.
The two major shareholders of PTL are Polyplex (Asia) Pte Ltd. and Polyplex Corp. Ltd., which respectively hold 53.50% and 16.50% of its paid-up capital after its IPO.
United Paper Pcl. has THB650 mln. worth of paid-up capital. Its shares are comprised of 99.32 mln. existing shares and 30.68 mln. shares in capital increase, each with a par value of THB5.00. United Paper’s securities will be listed in the Industrials Industry Group, Pulp & Paper Sector, and commence trading from Dec.16, 2004 onwards using “UTP” as their trading symbol.
Regarding UTP, the company sold its 30.68 mln. shares in its IPO, at THB9.50 a share during Dec.1 - 3, 2004. The fundraising proceeds will be used to construct a co-generation power plant to produce electricity and steam for its paper production. Another part of the proceeds will be used for repaying its long-term debts. Finansa Securities Co., Ltd. acts as UTP’s financial advisor.
UTP is engaged in the manufacturing and distributing of Kraft paper for the packaging industry in both domestic and overseas markets at a proportion of 99:1. Its product lines are Kraft liner board and corrugating medium, which are generally used for the production of corrugated paper containers. As for its dividend payment policy, UTP will pay out 50% of its net profits after taxes.
The three principal shareholders of UTP are the Chinsettawong group, the Mangkornkanok group, and Marketing Consultant Co. Ltd., respectively holding 29.71%, 12.11%, and 8.31% of its paid-up capital after its IPO.
For more information on Polyplex (Thailand) Pcl. and United Paper Pcl, please visit www.polyplex.com and www.unitedpaper.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.