Bangkok--Mar 2--Weber Shandwick
Sahamit Machinery Public Company Limited, Thailand’s full-service importer and distributor of special steel for making all kinds of mould, machine tools, tooling and industrial machinery, has received an acknowledgment letter from SEC that the commission will review its application to offer 90 millions IPO shares, at one Baht par per share, to raise approximately 250 million Baht for the construction of a heat treatment center and overall business expansion. Globlex Advisory is acting as the company’s financial advisor.
Mr. Chaisilp Tamesirichai, President of Sahamit Machinery Public Company Limited, said: “The Securities and Exchange Commission (SEC) on February 25th responsed to our application to offer shares and to list our shares on the Stock Exchange of Thailand (SET).”
“Presently, Sahamit has 550 million Baht in registered capital, with 440 million Baht in paid-up registered capital. The 90 million shares at a par value of one Baht apiece to be offered through the IPO equal approximately 17% of the total paid-up registered capital in March,” Chaisilp said.
Funds raised from the IPO will be used to establish a heat treatment center for special steel to offer a wider range of services and to solidify the company’s position as the country’s leading ‘one-stop service’ operator to the manufacturing sector. The center will require an investment of 130 million Baht for the land, the structure, machinery and equipment. The center will be constructed within this year and will be operational by the beginning of 2006.
Mr.Vicha Tomana, Senior Exeuctive Vice President, Investment Banking, Globlex Advisory Co., Ltd. financial advisor to Sahamit said: “Sahamit has a solid business, a high potential for growth, and professional management with over 30 years experience. For the year ended December 31 2004, the company’s total revenue was 1,419.31 million Baht and net profit was 126.33 million Baht, up 82.79 million Baht or 190% from the same period of 2003.
“Sahamit has set a dividend policy of no less than 40% of its after-tax net profit and legal reserve deduction. The company will conduct roadshows presentations to institutional investors in early March and expects the offer to be open for subscribtion in March.,” Vicha concluded.
Note to editor: Sahamit Machinery Public Company Limited was established in 1973. The company imports and distributes six categories of industrial materials: (1) Special steel (2) Machine tools (3) Tooling (4) Pulp and paper (5) Machinery and equipment for wood processing (6) Electrical engineering. Serving all of Thailand’s major production sectors. Sahamit Machinery’s goal is to be the leading full-service importer and distributor of industrial products to Thailand’s high growth industrial sectors.
For more information, please contact:
Prangtip Sivaruk, Sahamit Machinery Public Company Limited
Tel: 02 295 1000 ext. 1515, E-mail: [email protected]
Tippawan Wortong/ Jensiree Esaparn
PR Consultant, Weber Shandwick Tel: 02 257-0300 ext. 334, 333,
E-mail: [email protected] / [email protected] End.