Bangkok--Dec 2--SET
The Stock Exchange of Thailand (SET) will concurrently list Global Connections Pcl., a distributing agent of plastics, petrochemicals and additives, and Preuksa Real Estate Pcl., a property developer.
The SET approved the listing of Global Connections Pcl. in the Industrials Industry Group, Petrochemicals and Chemicals Sector, on December 6, 2005, using “GC” as its trading symbol.
Preuksa Real Estate Pcl. will be listed in the Property and Construction Industry Group, Property Development Sector, on the same day, using “PS” as its symbol.
“GC and PS are the 4th and 5th listed companies joining the bourse in December. This month will have highest number of new listings on both the SET and the Market for Alternative Investment (mai), as candidates seeking the 5% discount on their normal tax rates for five accounting years must submit their listing applications by December 31, 2005, and get listed by end-2006,” Ms. Sopawadee Lertmanaschai, SET EVP, said.
GC has THB200 million in paid-up capital. Its securities are comprised of an existing 155 million shares and an additional 45 million shares in capital increase, with a par value of THB1.00 each. During November 21 - 23, 2005, GC sold at its initial public offering (IPO) 43.9 million shares to the general public at THB2.34 per share. Also, during June 8 — 14, 2005, it sold another 1.1 million shares to the company’s directors, executives, and employees at THB1.03 per share. Kim Eng Securities (Thailand) Pcl. acted as its financial advisor. GC’s dividend payment policy is to pay out no less than 40% of net profits.
GC is the distributing agent of plastics, petrochemicals and additives. Its has three main business units: 1) Commodity Polymers, focusing on common raw materials, which have high price volatility and trading liquidity, 2) Specialty and Engineering Polymer, focusing on unique, strong, durable, heat- and chemical-resistant products suitable for automobiles, electronics and appliances, and 3) Specialty Chemical, focusing on additives, adhesives and other products for the petrochemical industry.
The principal shareholder of GC is Mr. Somchai Kulimakin, who holds 23.25% of the company’s paid-up capital after the IPO.
PS has THB2.125 billion in paid-up capital. Its securities are comprised of an existing 1.7 billion shares and an additional 425 million shares in capital increase with a par value of THB1.00 each. On November 25 and 28, 2005, PS sold at its IPO 112.5 million shares to the general public, 181.5 million shares to institutional investors, 25 million shares to the company’s benefactors, and 106 million shares to a venture capital fund, all at THB4.10 per share. Aside from PS’s capital increase shares, there were another 42.5 million shares (or 10% of capital increase shares) sold under the greenshoe option. Phatra Securities Pcl. acted as its financial advisor and over-allotment agent.
PS’s dividend payment policy is to pay out no less than 30% of net profits after reserves.
PS develops real estate projects, focusing on the Bangkok metropolitan area. The company manages the projects itself and is keen in applying new technology to control construction costs. The firm mainly develops land and starts its projects partially before opening for the pre-sale. PS’ real estate projects are in three categories: Townhouses, of which PS has developed 32 projects collectively worth THB29.3 billion; Detached Houses, of which the company has developed 17 projects collectively worth THB16.4 billion; and Condominiums, of which PS has developed only one project. PS’ main target customers are the low- to middle-income earners.
The principal shareholder of PS is Mr. Thongma Vijitpongpun, who holds 63.57% of the company’s paid-up capital after the IPO.
For more information on Global Connections Pcl. and Preuksa Real Estate Pcl., please visit www.gc.co.th, www.ps.co.th, www.set.or.th, or 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 End.