Bangkok--Feb 17--SET
The Stock Exchange of Thailand (SET) has approved the listings of Single Point Parts (Thailand) Pcl., a leading hard disk parts producer, in the Technology Industry Group on Feb.17 and Thai Metal Trade Pcl., a provider of integrated steel products, in the Property and Construction Industry Group on Feb.18.
SET Executive Vice President Ms. Sopawadee Lertmanaschai said that the SET Board of Governors approved the listings of Single Point Parts (Thailand) Pcl. and Thai Metal Trade Pcl. on the Exchange.
The securities of Single Point Parts (Thailand) Pcl. will commence trading in the Technology Industry Group, Electronic Components Sector, from February 17, 2005 onwards, using “SPPT” as their trading symbol. The securities of Thai Metal Trade Pcl. will commence trading in the Property and Construction Industry Group, Construction Materials Sector, from February 18, 2005 onwards, using “TMT” as their trading symbol.
Single Point Parts (Thailand) Pcl, or SPPT, has THB250 mln. worth of paid-up capital (approx. USD6.41 mln.) comprised of an existing 200 mln. shares plus an additional 50 mln. shares in capital increase, with a par value of THB1.00 per share. During Feb. 7-8, 2005, SPPT sold 45,925,000 shares in its initial public offering (IPO) at THB2.40 per share. It sold an additional 4,075,000 shares in capital increase to its employees at the management level at THB2.16 per share. United Securities Pcl. acted as its financial advisor.
Its IPO price of THB2.40 is equal to a 7.06 times price-earnings ratio, which is approximately 17% lower than the 8.53 times average of the Electronic Components Sector.
SPPT is a manufacturer of customized precision turned parts and components for hard disk drives (HDD) for world-class HDD manufacturers, such as Minebea, JVC, and Seiko. The Company plans to spend its nearly THB120 mln. worth of funds raised to expand its production capacity from its current 70 mln. pieces to 100 mln. pieces a year plus repay its debts to financial institutions and reserve some portion as its working capital. SPPT’s dividend payment policy states that it will pay out no less than 40% of its net profits after taxes and reserves.
After its IPO, SPPT’s principal shareholders are Mr. Prapoth Pholpipattanapong and related persons, who hold 32% of the company’s paid-up capital.
As for Thai Metal Trade Pcl., or TMT, the Company has THB425 mln. worth of paid-up capital (approx. USD10.9 mln.) comprised of an existing 340 mln. shares plus an additional 85 mln. shares in capital increase, with a par value of THB1.00 per share. TMT sold the entire lot of its capital increase shares to the public on Feb. 3-4, 2005, at THB5.95 per share. Seamico Securities Pcl. acted as its financial advisor.
The IPO price of TMT shares was obtained by assessing its fundamentals applied with its 7.6 times price-earnings ratio (the average P/E ratio in the Construction Materials Sector in 2004 was 10.79 times).
TMT offers integrated steel products and services as a ‘Steel Service Center’ engaged in providing flat and long steel products, steel processing, logistics, tolling and servicing as well as other related services.
THB505.75 mln. worth of funds raised in TMT’s IPO will be used to expand its factory in Ayudhya province to increase its processing capacity by 190,000 tonnes a year. The remaining raised funds will be used as its working capital. Its expansion plan is being conducted to enable TMT to better serve the growth in its domestic market. Businesses which use TMT products and services include wholesalers of steel products, operators in the construction industry, cold-formed steel plants, and businesses in the automobile parts and components industry.
The Tarasansombat family is the principal shareholder of TMT, holding 70.80% of its paid-up capital after its IPO. TMT’s dividend payment policy states that it will pay out no less than 50% of its net profits. Investors holding TMT’s IPO shares will be entitled to receive dividends from the Company’s total 2004 operations.
For more information on Single Point Parts (Thailand) Pcl and Thai Metal Trade Pcl, please see their websites at www.spp.co.th and www.thatmetaltrade.com. Accessing the SET’s website, www.set.or.th, and SETTRADE’s website, www.settrade.com, are also recommended.
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/
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.