Bangkok--Jan 25--SET
KPN Automotive Pcl. will list and commence trading on the bourse, becoming the 2nd new listing in the market and also in the Automotive Sector in 2005. The company successfully raised more than THB300 mln. in its quest to keep pace with the current expansion in its industry.
SET Executive Vice President Ms. Sopawadee Lertmanaschai disclosed that the SET Board of Governors had approved the listing of KPN Automotive Pcl.’s 100,000,000 shares, with a par value of THB5.00 each, in the Resources Industry Group, Automotive Sector. The securities will commence trading from January 26, 2005, onwards using “KPN” as their trading symbol.
“KPN is the year’s second newly listed company. Both new listings are in the Automotive Sector, and hence, their listings exhibit the potential for growth in this industry and the attractiveness of the capital market as a fundraising source for the country’s strategic sectors. In the meantime, having them listed on the bourse provides a greater number of quality alternatives for investors. Presently the Automotive Sector’s market capitalization accounts for about THB41,000 mln.(approx. USD1.025 bln.) or 0.86% of total market capitalization,” Ms. Sopawadee said.
KPN Automotive Pcl. (KPN) has THB500,000,000 (approx. USD12.5 mln.) in paid-up capital. This is comprised of an existing 77,358,626 shares plus 22,641,374 shares in capital increase, totaling 100,000,000 shares, each with a par value of THB5.00.
During Jan. 17 — 19, KPN sold 22.5 mln. shares of its capital increase portion in an initial public offering (IPO) at THB15.00 per share. This IPO price is equal to 10.35 times the price/earnings ratio, compared to the sector’s P/E ratio, which currently is 13.98 times.
Additionally, KPN sold the remaining 141,374 shares in its capital increase to its executives, directors, and employees at THB12.75 each. In its IPO, KPN also allotted 3,358,626 shares (14.6% of its total IPO shares) as a green shoe option for the underwriters. Asia Plus Securities acts as its financial advisor.
KPN plans to use THB320 mln. raised through its IPO to purchase machinery and equipment for the expansion of its metal-molded and plastic parts production, repay its debts with financial institutions, and reserve some portion as working capital. The Company also plans to expand its branch network of KPN Plus outlets in 2005-6. As for its dividend payment policy, KPN will pay out dividends of no less than 40% of its net profits after taxes and legal reserves.
KPN and its subsidiaries (KPN Plastics, KPN-ST Logistics, KPN-ST Warehouse, and KPN Plus) are in businesses relating to automotive industries, e.g., production and distribution of metal-molded and plastic parts used for automobiles, motorcycles, electrical and household appliances, as well as the franchising of motorcycle parts and accessories plus an integrated logistic business. The Narongdej family is KPN’s primary shareholder, holding 60.27% of its paid-up capital after its IPO.
For more information on KPN Automotive Pcl., please browse www.kpnautomotive.com, the SET website, www.set.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.