Bangkok--Dec 21--SET
The Stock Exchange of Thailand (SET) approved the listings of three companies on December 21 and 22 as follows:
1) On December 21, 2005, Ascon Construction Pcl. will be listed in the Property and Construction Industry Group, Property Development Sector, using “ASCON” as its trading symbol.
2) On December 22, 2005, CSP Steel Center Pcl. will be listed in the Property and Construction Industry Group, Construction Materials Sector, using “CSP” as its trading symbol.
3) Also on December 22, 2005, Interhides Pcl. will be listed in the Industrials Industry Group, Automotive Sector, using “IHL” as its trading symbol.
ASCON Raising Funds to Cope with the Construction Business’ Expansion
ASCON is a contractor for medium- to large-scale construction projects, including residential housing, office buildings, condominiums and industrial plants. ASCON has three subsidiaries distributing high-quality air compressors from Quincy Compressor and the sealing products of Garlock Sealing Technologies, as well as providing an engineering consultancy service. Presently ASCON has a project worth THB528.44 million under construction.
ASCON has THB200 million in paid-up capital. Its securities are comprised of an existing 150 million shares and an additional 50 million shares in capital increase, with a par value of THB1.00 each. During December 7 - 9, 2005, ASCON sold at its initial public offering (IPO) 50 million shares to the general public at THB4.20 per share. Its IPO price is about 6 - 7 times its price-earnings (P/E) ratio.
ASCON raised approximately THB200 million worth of funds to purchase land and a warehouse site for stocking building materials and maintenance purposes, expand its inventory, e.g.,equipment and spare parts, for its trading business, and reserve a part as working capital. Seamico Securities (Thailand) Pcl. acted as ASCON’s financial advisor.
The principal shareholders of ASCON are the Tanumathaya and Vilailuck groups, who respectively hold 32.25% and 25.65% of the company’s paid-up capital after the IPO. The company’s dividend payment policy is to pay out no less than 40% of its net profits after taxes and reserves.
CSP Increasing Its Product Line to Better Serve the Automotive Industry
CSP Steel Center Pcl. (CSP) provides rolled steel and process rolled steel to suit its clients’ needs, including slitting and cutting to order. The company also produces cold-rolled steel pipes, which is its by-product for the automotive, electrical appliances, steel pipe, furniture, packaging, and construction industries.
CSP has THB500 million in paid-up capital. Its securities are comprised of an existing 400 million shares and an additional 100 million shares in capital increase, with a par value of THB1.00 each. During December 14 - 15, 2005, CSP sold at its initial public offering (IPO) 100 million shares to the stakeholders of its underwriters and CSP, as well as to institutions, at THB3.00 per share. Seamico Securities (Thailand) Pcl. acted as its financial advisor.
CSP plans to spend THB238 million of the THB288 million in funds raised to repay short- and long-term loans. These loans had to purchase machinery for the company’s cold-rolled steel pipe production to serve the automotive and furniture industries. The remaining THB50 million will be used to expand and develop its factory and land for this cold-rolled steel pipe project as well.
The principal shareholder of CSP is the Chaisupat group, which holds 75.20% of the company’s paid-up capital after the IPO. The company’s dividend payment policy is to pay out no less than 50% of its net profits after taxes.
IHL Expanding Production Capacity to Serve Domestic and Overseas Automakers Interhides Plc. (IHL) has THB300 million in paid-up capital. Its securities are comprised of an existing 45 million shares and an additional 15 million shares in capital increase, with a par value of THB5.00 each. During December 14 - 16, 2005, IHL sold at its initial public offering (IPO) 6.5 million shares to the general public, 5.5 million shares to institutions, and 3 million shares to its stakeholders, at THB18.25 per share. Its IPO price is about 8.7 times its price-earnings (P/E) ratio. Kim Eng Securities (Thailand) Pcl. acted as its financial advisor.
IHL produces leather car seats and other car accessories, e.g., steering wheels and gear knobs for leading carmakers, such as Toyota, Honda, Nissan, Ford, Mitsubishi, Isuzu, and Subaru. From its IPO, IHL raised approximately THB265.12 million net after expenses. The company will use the proceeds to build a new factory in order to expand its production capacity, purchase machinery and repay debts.
The principal shareholders of IHL are Mr. Ongart Thumrongsakunvong’s group and the Sumitomo Group, who respectively hold 47.15% and 20.005% of the company’s paid-up capital after the IPO. The company’s dividend payment policy is to pay out no less than 40% of its net profits after taxes.
For more information on Ascon Construction Pcl., CSP Steel Center Pcl., and Interhides Pcl., please visit the companies’ websites at www.asconthai.com, www.cspsteel.com, and www.interhides.com. Their 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 End.