Bangkok--Oct 27--SET
The Stock Exchange of Thailand (SET) approves listings of Metrostar Property Pcl. and Eason Paint Pcl. in the Property & Construction Group and Industrials Group respectively.
The SET Board of Governors has approved the listings of Metrostar Property Pcl. and Eason Paint Pcl..
Metrostar Property Pcl. will be listed in the Property & Construction Group, Property Development Sector, starting from October 26, 2005, using “METRO” as its trading symbol.
The securities of Eason Paint Pcl. will be listed in the Industrials Group, Automotive Sector, beginning on October 27, using “EASON” as their trading symbol.
“Bringing in these two companies will boost the total new listings to 21 for 2005. These companies collectively have THB86.42 bln. (approx. USD2.11 bln.) in market capitalization at their IPO prices. For the coming November, there will possibly be 10 new listings with a total market capitalization, at their IPO prices, of about THB220 bln. This includes the listing of EGAT Pcl., which has an estimated worth of THB200 bln. (approx. USD4.88 bln.),” said Ms. Sopawadee Lertmanaschai, SET Executive Vice President.
METRO has THB450 mln. (approx. USD10.98 mln.) in paid-up capital. It is comprised of an existing 150 mln. shares and an additional 75 mln. shares in capital increase each with a par value of THB2.00. During October 3 — 7, the company sold its shares at its IPO at THB7.00 per share.
METRO’s IPO price is equal to 7.76 times its price-earning (P/E) ratio. At the same time, its industry’s P/E ratio stands at about 11.94 times. Thanachart Securities Co., Ltd. was METRO’s financial advisor.
METRO’s main business is developing property projects in Bangkok’s Central Business District and other prime areas. The company has developed a total of five projects and has two additional projects, worth THB3.0 bln. (approx. USD73.17 mln.), in the pipeline; the Sathon Grand Terrace and the Sathon Grand Mansion. The Buraphachaisri family holds 60.04% of METRO’s paid up capital.
EASON has THB200 mln. (approx. USD4.88 mln.) in paid-up capital, comprised of an existing 140 mln. shares and an additional 60 mln. shares in capital increase each with a par value of THB1.00. During October 12 - 14, the company sold its shares at its IPO at THB3.00 per share.
The IPO price of EASON is equal to 10 times its price-earnings (P/E) ratio. At the same time, its industry’s P/E ratio stands at about 10.73 times. The company had Globlex Advisory Co., Ltd. as its financial advisor.
EASON is Thailand’s leading industrial paint manufacturer, with a foreign partner providing knowledge transfers. More than 71% of its revenues were derived from motorcycle paint and plastic paint. Its growth is in line with the growth of the automobile industry, which has been growing at an average 10% per annum.
Presently EASON’s major shareholders are Eksang Holdings Co. Ltd. and the Eksangkul family who hold a total 67.48% of the company’s paid-up capital.
For more information on Metrostar Property Pcl. and Eason Paint Pcl., please visit the companies’ websites at www.metrostarprop.com and www.easonpaint.com. Information is also available on the SET’s website, www.set.or.th and SETTRADE.Com’s website, www.settrade.com
For more information,
please contact the Corporate Communications 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.