Bangkok--Oct 18--Eason Paint
Eason Paint's IPO Shares sold out on the first day
Ready to commence trading in the auto industry section on October 27, 2005
Petcharat Eksangkul, Managing Director of Eason Paint Public Company Limited said that the company's Initial Public Offering (IPO) of 60 million shares offered at 3.00 baht per share from the par value of 1 baht was fully subscribed on the first day of subscription and succeeded in gaining strong support from both institute and retail investors especially the institute investors with about 5.5 times excess booking. The company was able to allocate 40% of the total IPO shares to the institute investors, 40% to the retail investors and the remaining to company's sponsors.
"The proceeds from this offering would enable the company to increase its competitiveness, business development potential as well as its opportunity in future project expansion. At the same time, the company's management would continue with its effort to further its success to assure the maximum benefit of its clients and shareholders", said Petcharat
Chuangchai Nawong, CEO of Globlex Securities Company Limited as the Financial Advisor and Lead Underwriter, said that the reasons attributed to the investors' interest and confidence in Eason Paint's shares was its strong fundamental factors with customer base in the fast growing industry including motorcycle and automobile industry. At the same time, it has over 40 years of experience in the paint business as well as strong cooperation with leading manufacturers in Japan and Germany resulting in the customers' acceptance as the reliable paint manufacturer with international quality standard. Eason Paint's shares are anticipated to commence trading in the Stock Exchange of Thailand within October 27 in the auto industry section under "EASON".
Eason Paint Public Company Limited was founded in 1965 by Eksangkul Family under so-called name E-Sarn Paint Limited with long-term experience and vision in the paint industry. The company has been in business for over 40 years with cooperation with the leading paint manufacturers and technology owners such as BASF Coatings Japan and Origin Electric, Japan with broad domestic and overseas customer network.
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Lakana Khwan-ngam , Sujira Wirojana
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