Bangkok--Jan 26--SET
C.I. Group Pcl. will be the first listing on the mai in 2005. The Company will spend the funds raised to expand production capacity, repay its debts and add to its working capital.
The President of the Market for Alternative Investment (mai), Mr. Vichate Tantiwanich, said that the SET Board of Governors approved C.I. Group Pcl. to be the first listing in 2005 on the mai. The listed securities of C.I. Group Pcl. will be comprised of 165 mln. shares (120 mln. existing shares plus 45 mln. shares in capital increase), each with a par value of THB1.00. This brings their total worth to THB165 mln. These securities will commence trading on the mai starting from January 27, 2005 onwards using “CIG” as their trading symbol.
During Jan.18-20, 2005, CIG sold 45 mln. capital increase shares in its initial public offering (IPO) at THB2.75. Of the 45 mln. shares, 41 mln. were sold to the public while the remaining 4 mln. were sold to its directors and employees. Syrus Securities Pcl. acted as its financial director. CIG plans to use THB62 mln. worth of its funds raised to expand its production capacity. Another THB50 mln. will be used to repay its debts, and the remaining will be used as working capital.
CIG produces evaporator and condenser coils for both the domestic and export markets. These coils are parts for air-conditioners, air-coolers, and other heat exchangers.
“The air-conditioning industry has good growth potential and is likely to grow in line with the property sector. In addition, export sales of CIG products have increased. CIG plans to expand its production capacity and build a new factory to meet expected new demands. CIG is showing that it has an exceptional growth potential and that its securities will become another interesting choice for investors,” said Mr. Vichate.
Concerning its operational performance during the past 3 years, CIG’s total sales grew from THB424 mln. in 2002, to THB466 mln. in 2003, and THB 454 mln. in the first 9 months of 2004. Its net profits were recorded at THB11 mln., THB25 mln., and THB36 mln., respectively, for those periods. As for its dividend payment policy, CIG will pay out approximately 50% of its net profits after taxes and legal reserves. Its current price/earning ratio is about 6.87 times.
After the IPO, the 3 principal shareholders of CIG include Mr. Aree Poomsanoh, Mr. Taweesak Wangkorkiat, and Mr. Wongsawat Wongsawang, who hold 28.63%, 18.47%, and 14.38% of the Company’s paid-up capital, respectively.
For more information on C.I. Group Pcl., please browse the company’s website, www.coilinter.com; 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.