Bangkok--9 May--SET
Tirathai PCL, (TRT) producer and distributor of transformers, has raised funds through Thailand’s Market for Alternative Investment (mai) to enhance its growth potential and to strengthen its capital base.
President of mai Mr. Chanitr Charnchainarong disclosed that mai had approved the listing of 101.32 million shares of TRT, with a par value of THB 2.00, totaling THB 202.64 million (approx. USD5.33 million). These securities will commence trading on May 10, 2006, with “TRT” as their trading symbol.
TRT manufactures and distributes transformers used to adjust electrical or power voltage under the trademark “TIRATHAI”. The services provided by TRT include installation, maintenance, and testing of transformers. Its clientele come from both the local and overseas markets, e.g., Electricity Generating Authority of Thailand, Provincial Electricity Authority, Metropolitan Electricity Authority, PTT PCL, and several project contractors. Currently TRT has selling agents in Vietnam and Brunei.
TRT has THB 202.64 million in paid-up capital. This is comprised of an existing 71.32 million shares, plus 30 million shares in capital increase. From April 26 to 28, the company sold capital increase shares during its initial public offering (IPO) at THB 5.75 per share. KGI Securities (Thailand) PCL acted as its financial advisor.
The IPO price for TRT is equal to 7.57 times its price/earnings (P/E) ratio, while the average P/E of all mai companies is about 9.49. TRT’s dividend payment policy is to payout no less than 50% of net profits.
Principal TRT shareholders are Mr. Sumphan Vongphan, SEAVI III Fund (B) Ltd., and Mr. Charuvit Suanmalee, who respectively hold 12.30%, 10.54%, and 5.87% of the company’s paid-up capital following the IPO.
For more information on TRT, please visit its corporate website at www.tirathai-transformer.com , mai’s website at www.mai.or.th , or SETTRADE.Com’s website at www.settrade.com .
For more information, please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049 / Watsamon Saowakhonsathien Tel: 0-2229-2797