Bangkok--Feb 25--SET
Bualuang Securities Pcl., one of Thailand’s top 10 brokers for three consecutive years, will have its common shares, worth THB360 mln., listed in the Financials Industry Group. The funds raised from its IPO will be for business expansion and to develop its securities brokerage business.
SET Executive Vice President Ms. Sopawadee Lertmanaschai disclosed that the SET Board of Governors has approved the listing on the bourse of Bualuang Securities Pcl. in the Financials Group, Finance & Securities Sector. Its securities will commence trading from February 28, 2005 onwards, using “BLS” as their trading symbol.
BLS has THB 360 mln. (approx. USD 9.2 mln.) worth of paid-up capital. Its listed securities are comprised of an existing 125 mln. shares and an additional 55 mln. shares in capital increase, totaling 180 mln. shares, each having a par value of THB 2.00.
Of its 55 mln. capital increase shares, BLS sold 27.5 mln. shares in its initial public offering (IPO) to the general public at THB12.00 per share and sold another 7 mln. shares to its directors and employees at THB4.10 per share over February 16 -18, 2005. Its IPO price at THB12.00 is equal to 8.4 times its price-earnings ratio.
The remaining 20.5 mln. shares are reserved for bond conversion. The Company has IFCT Advisory Co., Ltd. as its financial advisor.
BLS is SET member No.1 and is currently included in the top 10 brokerage firms in terms of market share for three consecutive years. The purpose of its fundraising is to develop its securities brokerage business. It will also invest more to cope with business expansion. The remaining funds will be used as its working capital. As for its dividend payment policy, BLS will pay out no less than 50% of its profits after taxes and reserves.
BLS is engaged in 4 areas of the securities business as follows: 1) Securities brokerage business, 2) Investment banking, as BLS offers both financial advisory and underwriting services, 3) Private fund management business, and 4) Mutual fund selling agent.
The company’s principal shareholder is Bangkok Bank Pcl., which holds 56.34% of BLS’s paid-up capital after the IPO. Presently BLS has a total of 23 offices. Fourteen of them are located in Bangkok and its vicinity, and nine are in other provinces.
For more information about Bualuang Securities Pcl., please browse the company’ website, www.bualuang.co.th, the SET’s website, www.set.or.th, and SETTRADE.Com’s website, www.settrade.com
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