Bangkok--Dec 13--SET
ACAP Advisory Pcl. will be listed on Thailand’s Market for Alternative Investment (mai) on December 14, 2005, using “ACAP” as their trading symbol.
“Raising funds through the mai will help it develop higher efficiency and transparency, hence gaining more confidence from the company’s stakeholders. The professionalism of the company is essential for its business in debt restructuring and non-performing asset management,” mai President Mr. Vichate Tantiwanich said.
ACAP has THB100 million (approx. USD2.44 mln.) worth of paid-up capital. This is comprised of an existing 77 million shares plus an additional 23 million shares in capital increase, each with a par value of THB1.00. During the company’s initial public offering (IPO) on Nov. 29-30, and Dec. 1, 2005, ACAP sold 23 million shares to the general public at THB7.00 per share. Far East Capital Advisory Co. Ltd. acted as its financial advisor.
The IPO price of ACAP is equal to 17.07 times its price-earning (P/E) ratio. ACAP’s dividend payment policy is to pay out no less than 50% of its net profits after taxes and reserves.
The approximately THB154.95 million raised from its IPO will be used to repay the company’s debt, invest in assets for future expansion, pay for administrative services, and be working capital. ACAP will also use the funds to place guarantee deposits with courts as a service to its rehabilitation plan clients.
ACAP principally provides financial advisory and corporate finance advisory services, e.g., debt restructuring, acting as a plan preparer and administrator under the Bankruptcy Act, raising equity and debt capital, and issuing and offering of securities, and managing assets. ACAP also negotiates and collects non-performing assets of financial institutions, including engaging in legal action to collect payments and sell any seized collateral.
After its IPO, ACAP’s principal shareholder is Mr. Vivat Vithoontien’s group who holds 60.84% of the company’s paid-up capital.
For more information on ACAP, please visit www.acap.co.th, 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.