Bangkok--Jul 14--SET
The Stock Exchange of Thailand (SET) will have two new listings in the steel industry. Permsin Steel Works Pcl. and M.C.S. Steel Pcl. will be in the Construction Materials Sector, under the Property & Construction Industry Group. The two new listings will commence trading on July 14 and 15 respectively.
Executive Vice President of the SET Ms. Sopawadee Lertmanaschai announced that the SET Board of Governors approved the listings of Permsin Steel Works Pcl. and M.C.S. Steel Pcl. in the Construction Materials Sector, under the Property & Construction Industry Group. The securities of Permsin Steel Works Pcl. will commence trading on July 14, using “PERM” as their trading symbol, and those of M.C.S. Steel Pcl. will commence on July 15, using “MCS” as their symbol.
“Both firms are in the steel industry, which has a promising growth potential. We’re glad that they see the benefits of raising funds through the capital market in order to expand their growth opportunities. These companies will help make our market more interesting and be two additional good options for investors,” Ms. Sopawadee said.
Permsin Steel Works Pcl. (PERM) transforms and distributes 6 main product lines: 1) Cold rolled coil 2) Electro-galvanized steel 3) Roof forming metal sheet 4) “Smartruss” house truss 5) C-line, c-u and t-bar insulated metal roofing, and 6) C-channel galvanized high tensile strength. PERM’s products are used as raw materials in several second-stage industries, e.g., construction, steel furniture, electrical appliances, automobiles, and steel pipes. The company is constantly developing its value-added products and new product lines, which has resulted in a 37% and 48% growth in sales in 2004 and Q1/2005 respectively.
PERM raised funds by offering its 100 mln. capital increase shares to the public at THB3.50 per share on June 29 — 30, and July 4, 2005. Seamico Securities Pcl. was its financial advisor. PERM plans to use the approximately THB350 mln. worth of funds to pay for construction on its new office as well as for additional machines and equipment. The funds will also be used to construct the company’s distribution center. The plan is to expand on its production capacity and distribution channels.
After the fundraising, PERM has THB500 mln. worth of paid-up capital, consisting of 500 mln. shares with a par value of THB1.00 each. PERM’s principal shareholders are Mr. Chukiat Yongvongpaibul and Mrs. Chamaiporn Yongvongphaiboon, holding 43.19% and 12.00% of the company’s paid-up capital respectively. The firm’s dividend policy is to pay out no less than 50% of its net profits after taxes.
M.C.S Steel Pcl. (MCS) manufactures and sells structural steel fabrications, e.g., column-boxes and beams for high-rise building construction projects. The company’s products have been certified by the standard organizations in both Japan and Thailand. MCS primarily exports to Japan, which accounts for more than 90% of total revenues.
OverDuring July 5 — 7, 2005, MCS offered 100 mln. capital increase shares in capital increase in its initial public offering (IPO). 95 mln. shares were sold to the public and the remaininganother 5 mln. shares to the company’s employees. Furthermore, its principal shareholders also sold atheir 25 mln. share portion of their own holdingss in the IPO as well., plus Tthere was’re also an additionalother 15 mln. shares offered under the green shoep option. All these shares offeredpresented in the IPO were sold at THB2.40 per share. by having IFCT Advisory Co., Ltd. acted as MCS’s financial advisor and Kim Eng Securities (Thailand) Pcl. was its lead underwriter. The company will use the approximately THB229.65 mln. in funds raised to expand its production capacity, invest in a structural steel business in China, as well as construct athe shipping port.
After the fundraising, MCS has a total of THB500 mln. in paid-up capital. This consists of 500 mln. shares with a par value of THB1.00 each. MCS’s principal shareholders are Dr. Naiyuan Chi and Mr. Chi Ching Po holding 32.17% (incl. 15 mln. shares under the green shoe option) and 18.00% of the company’s paid-up capital respectively. MCS’s dividend payment policy is to pay out no less than 50% of its net profits.
For more information on PERM, please browse www.permsin.com, and for information onon MCS, browse www.mcssteel.com. Information on the SET website, www.set.or.th, and SETTRADE.Com’s website, www.settrade.com are also available.
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.