Bangkok--May 4--Weber Shandwick
Sahamit Machinery Public Company Limited (Sahamit) will offer its 90 million IPO shares at 2.75 Baht per share. Subscription for the IPO shares can be made during May 10-11. Sahamit expects the shares to list on the SET in mid-May in the automobile sector. Globlex Advisory and Globlex Securities have been appointed as the financial advisor and lead underwriter respectively.
“We have appointed Globlex Securities Company Limited as our lead underwriter, and our co-underwriters include Far East Securities Company Limited, Ayudhya Securities Public Company Limited, BT Securities Company Limited, Syrus Securities Public Company Limited, and National Securities Public Company Limited.” Said Mr. Chaisilp Tamesirichai, President of 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.
“Sahamit Machinery Public Company Limited was founded in 1973. All through the past 30 years, our company has continued to grow and improve financially. In 2004, we had total revenue of 1,416.08 million Baht and a net profit of 126.33 million Baht, up 190% from the previous year. In the first quarter of this year, total revenue was 470.98 million Baht and operating profit was 86.36 million Baht, an increase of 51.06% compared to the same period last year. In addition, the company has paid a dividend of 10 satang per share, from the profits earned in 2004, following approval by the shareholders at an ordinary meeting of 2005. Therefore, we are ready for competition as we have maintained the quality and standard of our products, as well as kept expanding the client base over the past 30 years. Presently, we have over 2,000 clients in most major industrial sectors of the country, especially the automobile and parts industry. Funds raised from the IPO will be used to establish a heat treatment center for specialty 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, particularly the mould making and machine tool manufacturers which are part of the foundation of Thailand’s industrial sector and the automobile and parts industry. The plant is anticipated to reach full operational capacity in 2006,” added Chaisilp.
“The price for Sahamit’s IPO has been set at 2.75 Baht per share, which has been well-received by institutional investors. The historical P/E ratio on IPO price is 11.46 X. When compared to that of the automobile sector, which is at 12.56 X, the IPO price is reasonable in the current market environment. The price offers a discount to investors to help ensure that they will receive favorable returns. Sahamit has a number of clients in the automobile and parts industry, and the industry has been growing due to the government’s policy to establish Thailand as the Detroit of Asia, thus making Sahamit’s outlokk very interesting. The shares are expected to be listed in mid-May, after the subscription process,” said Mr. Chuangchai Nawongse, CEO of Globlex Securities Company Limited, lead underwriter of Sahamit’s IPO.
Sahamit Machinery Public Company Limited is offering 90 million IPO shares, which is equal to 17% of its registered capital. Interested persons can obtain a prospectus and subscription form at Globlex Securities or any of the five co-underwriters. Subscription can be made during May 10-11, and that the shares will be listed in the Stock Exchange of Thailand in mid-May, in the automobile sector, under the ticker symbol “SMIT”.
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. Sahamit is a full-service importer and distributor of special steel as well as industrial machinery to serve the local manufacturing sector, including the automotive and parts, electric and electronics, household ware, and construction materials, for instance, bolts, screws, and hinges. 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.