Bangkok--Jan 31--SET
Bangsaphan Barmill Pcl. is going to be the 1st listed company in the Construction Materials Sector with THB1,132.50 mln. in paid-up capital.
SET Executive Vice President Ms. Sopawadee Lertmanaschai disclosed that the SET Board of Governors has approved the listing of Bangsaphan Barmill Pcl. in the Property & Construction Industry Group, Construction Materials Sector from February 1, 2005, onwards. The company will use “BSBM” as its trading symbol.
“BSBM is the first new listing in the Construction Materials Sector, Property & Construction Industry Group. The company is the 4th in terms of all the new listings in 2005 to date. If we look at the current trend of the property development and construction industry in, as well as outside, Thailand; it becomes apparent that the demand for steel bars is clearly rising.
The industry is now actively seeking fundraising channels to keep pace with that growth. Due to the increased need to raise funds to expand capacities to meet the anticipated rising demands, more and more companies are expected to list in this sector in 2005,” said the SET’s EVP.
Bangsaphan Barmill Pcl. has THB1,132.50 mln. (approx. USD28.32 mln.) worth of paid-up capital. This is comprised of an existing 906 mln. shares and 226.50 mln. shares in capital increase, each with a par value of THB1.00.
BSBM presented its 226.50 mln. capital increase shares in their initial public offering (IPO) at THB3.80 during January 20 — 24, 2005. Kim Eng Securities (Thailand) Pcl. acts as its financial advisor. Additionally BSBM also allotted 33.5 mln. shares (14.79% of the total shares offered) as a Green Shoe Option for the underwriter. The Company plans to use its THB860.7 mln. worth of raised funds (calculated by multiplying its 226.50 mln. capital increase shares by THB3.80) to service its debts and then hold the remaining in reserve as future working capital for further planned expansion.
As for its dividend payment policy, BSBM will pay out about 40 - 60% of its net profits after taxes.
BSBM produces and sells round steel bars and deformedsteel bars, which can be used in all kinds of construction projects. The round steel bars are suitable for general construction, buildings, and roads, while the deformed steel bars are perfect for large utility projects such as dams, high-rise buildings, and pillars. Its products are presently marketed only domestically.
After its IPO, BSBM’s two principal shareholders are the Viriyaprapaikit Group and Taiwanese investors who hold 50.86% and 28.89% of the company’s paid-up capital respectively.
For more information on Bangsaphan Barmill Pcl., please browse www.bsbm.co.th, 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.