Bangkok--Dec 7--SET
The Market for Alternative Investment (mai), a part of The Stock Exchange of Thailand (SET), approved the listings of Thai Plastic Pcl. and 124 Communications Pcl. on the bourse.
The securities of Thai Plastic Pcl. will commence trading on December 7, 2005, using “TPAC” as their trading symbol. Those of 124 Communications Pcl. will start trading on December 8, 2005, under “PR124” as their symbol.
mai President Mr. Vichate Tantiwanich said, “TPAC and PR124 are businesses with growth potential and are managed by modern entrepreneurs. They’ve chosen to raise their long-term funds through the mai, which will assure them of relatively lower risks and incur no interest and principal burdens.
“Their listings will enable them to enjoy a 10% corporate tax discount for five consecutive years. TPAC and PR124 will therefore be able to gain a competitive edge in financial and cost management. Investing in these companies should thus be good alternative for people wishing to invest in high growth industries,” he continued.
TPAC manufactures plastic packaging products, e.g., bottles and caps for food and beverages, cleaning products, furniture parts, as well as cosmetics and pharmaceutical merchandise. The company has THB100 million (approx. USD2.44 mln.) worth of paid-up capital. This is comprised of an existing 80 million shares plus an additional 20 million shares in capital increase each with a par value of THB1.00.
During the company’s initial public offering (IPO) on November 28 - 29, 2005, TPAC sold 12 million shares to the general public, 2 million shares to institutional investors and another 6 million shares to its benefactors at THB2.80 per share. The company raised THB52.03 million after expenses. Thanachart Securities Pcl. acted as its financial advisor.
TPAC plans to spend THB15 million to renovate its factory for future expansion, THB25 — 30 million to invest in machines and moulds for hot runner and thin wall PET packaging products and reserve the remaining THB11-16 million as working capital.
The firm’s IPO price is equal to 8 times its price-earnings (P/E) ratio. The average P/E ratio of the mai is about 7.53 times. (as of November 30, 2005)
TPAC’s dividend payment policy is to pay out no less than 50% of its net profits after taxes and reserves.
After its IPO, TPAC’s principal shareholders are Modernform Group Plc., which holds 48.00% of the company’s paid-up capital, as well as the Sriusvagool and Hongpitakpong families, who each hold 10.80% stakes.
The other listing, PR124, is a public relations and corporate communication consulting firm which provides services in corporate public relations and product promotion, IPO public relations and investor relations.
The company has THB45 million (approx. USD1.1 mln.) worth of paid-up capital. This is comprised of an existing 36 million shares plus an additional 9 million shares in capital increase each with a par value of THB1.00.
During the company’s initial public offering (IPO) on November 28 - 29, 2005, PR124 sold 7.5 million shares to the general public, and another 1.5 million shares to its benefactors at THB7.10 per share. The company raised THB59.22 million after expenses. Sage Capital Co. Ltd. acted as its financial advisor.
PR124 plans to use the funds raised to expand its business and client base. It will also reserve a part as its working capital. PR124’s dividend payment policy is to pay out no less than 50% of its net profits after taxes and reserves.
The firm’s IPO price is equal to 13.88 times its price-earnings (P/E) ratio. The average P/E ratio of the mai, as of November 15, 2005, is about 7.88 times. The average P/E ratio of listed companies in the entertainment and recreation sector stands at 21.24 times.
After its IPO, PR124’s principal shareholders are Mr. Nimitz Modrakee’s group and Ms. Jira Sanguthai, who hold 31.77% and 14.67% of the company’s paid-up capital respectively.
For more information on TPAC and PR124 please visit www.thaiplaspac.com, www.124comm.com, www.mai.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.