Bangkok--15 May--SET
Thai Optical Group PCL (TOG), Thailand’s leading producer and distributor of optical lens, is to be listed in the Consumer Products Group.
Chairwoman of Capital Market Opportunity Center Ms. Sopawadee Lertmanaschai disclosed that The Stock Exchange of Thailand had approved the listing of TOG in the Consumer Products Industry Group (Personal Products & Pharmaceuticals Sector). The company’s securities will commence trading on May 16, 2006, with “TOG” as their trading symbol.
TOG is one of the world’s top four optical lens producers and the largest in Thailand. Its technology includes the production of high-impact resistant lens. TOG products are distributed both under Original Equipment Manufacturer (OEM) basis and under its own brand “Excelite”.
“Listing on the exchange will strengthen TOG’s capital base as well as enhance its potential and competitive advantage. Having access to the capital market is another advantage the company has in terms of funding sources,” Ms. Sopawadee said.
TOG has THB 400 million (approx. USD 10.63 million) in paid-up capital. This is comprised of an existing 332 million shares, plus 68 million shares in capital increase, all with a par value of THB 1.00 each. On May 8 and 9, the company sold capital increase shares during its initial public offering (IPO) at THB 2.80 per share, with 58 million shares distributed to retail and institutional investors and another 10 million shares distributed to TOG benefactors. ACAP Advisory PCL and Ayudhya Securities PCL acted as TOG financial advisor and lead underwriter respectively.
The IPO price for TOG is equal to 11.67 times its price/earnings (P/E) ratio and 0.77 times its price/book value (P/BV) ratio, while the average P/E and P/BV of the Personal Products & Pharmaceuticals Sector are 10.85 and 1.66 times, respectively. TOG’s dividend payment policy is to pay out no less than 40% of net profits after reserves.
Principal TOG shareholder is the Pracharktam family, which holds 282.63 million shares, representing 70.79% of the company’s paid-up capital following the IPO. However, on TOG’s first trading day, the family will sell 15.37 million shares, or 3.84% of the company’s paid-up capital, to Mr. Rudolf Suter at THB3.40 per share. This lot of shares will be subject to the silent period similar to those shares owned by existing shareholders.
For more information on TOG, please visit its corporate website at www.thaiopticalgroup.com , the SET’s website at www.set.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