Bangkok--Dec 22--JWT Public Relations
Mr. Weerasak Chaisupat, Managing Director of CSP Steel Center Public Company Limited or “CSP” one of the best steel service center in Thailand, revealed that the company has received The Stock Exchange of Thailand approval to trade new common stocks, brand name ‘CSP’, under the construction materials category, starting December 22, 2005
“The company has a registered capital of 500 million Baht, shares held by existing shareholders of 400 million shares and 100 million new common stocks, par value of Bt1 baht per share, initial public offering price on December 14-15 at Bt3 per share. The company had appointed Seamico Securities Plc as a brokerage company to arrange for the sales of common stocks. The Chaisupat family will remain a major shareholder of 75.20% previously 94%. All existing shareholders will be bound with the “Silent Period”, in order to increase the investor’s confident that existing shareholders will not be selling out their shares”.
Mr. Weerasak added “The company plans to spend the increased capital to increase production capability of cold rolled steel, expansion of the manufacturing plant, diversify the products and on revolving cash for business operations. In order to meet the growing needs of customers as well as to provide them with a reliable and efficient steel cutting service especially for automobile industry. We placed great importance in distributing quality steel, and fast and effective service to achieve our vision to become a “Quality Steel Service Center”.
Seamico Securities Plc had estimated share price to reach Bt3.75 per share next year, 7 times the average price per share of other steel business operators in the same industry. This contributed by two factors:-
1. The cold rolled steel market is expected to continuously grow amid the booming automobile industry, the company main target group.
2. Revenue increased in cold rolled steel products, company’s new product line since forth quarter this year.
“The company’s 2005 performance report for a period of 9 months (January — September) reached Bt2,142.6 million, increased 52.65% compared to the same period last year, reported at Bt1,403.6 million. This year Net Income reported at Bt67.61 million, increased 95.18% compared to the same period last year reported at 34.64 million. Thus, we are positive that next year profit will continue to grow by 15-20%. The company’s main business units can be divided as follows: Automobiles 30.3%, Furniture 14.7%, Home and Electric appliances 12.4%, Cold steel pipes and tanks 9.5% and Steel Retail 25.8% others 7.4%.
For more information, please contact:
JWT Public Relations Department
Khun Wongchan Tangsongsak (Chan)Tel. 0-2204-8221, 09-127-2089
Or Khun Prasit Kritsadaariyachon (Bob) Tel. 0-2204-8216, 01-586-5 End.