Bangkok--Jan 12--SET
Yarnapund Pcl. will be the first new listing in 2005 in the Resources Industry Group, having THB1,260 mln. in registered capital. The capital raised will be used to repay the company’s debts and used as its working capital.
SET Executive Vice President Ms. Sopawadee Lertmanaschai disclosed that the SET Board of Governors has approved the listing of Yarnapund Pcl. on the Exchange in the Resources Industry Group, Automotive Sector. Its listed securities will be comprised of 252 mln. shares, each with a par value of THB5.00, totaling THB1,260 mln. (approx. USD31.5 mln.). These securities will commence trading from January 13, 2005, onwards, using “YNP” as their trading symbol.
“The SET has adjusted the names and definitions of some sectors effective from January 4. The Vehicles & Parts Sector was changed to the Automotive Sector to better reflect the importance of this sector as one of the Thai government’s strategic industries. Government plans are for the Automotive Sector to drive Thailand to become the hub of automobile production in Asia.
“This industry will be actively seeking expansion and will need to find funding sources so it can become one of Thailand’s essential elements for growth. We expect there’ll be at least 10 companies in the automotive industry interested in listing on the bourse this year,” the SET EVP said.
YNP has THB1,260 mln. (approx. USD31.5 mln.) (approx. USD ….. mln.) in paid-up capital. This is comprised of an existing 212 mln. shares plus an additional 40 mln. shares in capital increase. Of the capital increase portion, 37 mln. shares were sold to the public and the remaining 3 mln. sold to YNP’s directors, executives and employees on December 24 — 28, 2004 at THB13.40 per share. Syrus Securities Pcl. and SICCO Advisory Co., Ltd. acted as its financial advisors.
As for its plan for the use of the funds, YNP will spend THB500 mln. to repay its debts and THB15 mln. will serve as its working capital. The company has a dividend payment policy of no less than 30% of its net profits after reserves.
YNP manufactures metal molded auto parts (called press parts) especially for large trucks. Its main product lines include 1) exhaust systems 2) accelerators, brake and clutch (ABC) pedal sets, and 3) press parts for cars and other products for the OEM (Original Equipment Manufacturer) and REM (Replacement Equipment Manufacturer). Its subsidiary, YNP Engineering Co., Ltd. is responsible for the design and production of the tools used in the manufacturing process such as dies, jigs, checking fixtures (C/F) and equipment.
After its initial public offering, YNP’s first three principal shareholders are the Phanpanit family, SCB Asset Management, and AJF Asset Management, holding 71.49%, 4.21%, and 3.33% of the company’s paid-up capital respectively.
For more information on Yarnapund Pcl., please browse www.yarnapund.co.th, www.set.or.th, or 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.