Bangkok--18 May--SET
S.E.C. Auto Sales and Service PCL (SECC) is to be the Automotive Sector’s first listing in The Stock Exchange of Thailand (SET) after having successfully raised about THB 291 million to expand its branch network, repay its debts, and augment its working capital.
SECC will commence trading in the Industrials Group, Automotive Sector, on May 18, Chairwoman of Capital Market Opportunity Center Ms. Sopawadee Lertmanaschai disclosed.
S.E.C. Auto Sales and Service PCL has THB 400 million (approx. USD 10.53 million) in paid-up capital. This is comprised of an existing 300 million shares, plus 100 million shares in capital increase, all with a par value of THB 1 each. On May 9 to 11, the company sold capital increase shares during its initial public offering (IPO) to retail and institutional investors as well as SECC benefactors, at THB 3 per share. Finansa Securities Co., Ltd. acted as SECC’s financial advisor.
The IPO price for SECC is equal to 8.82 times its price/earnings (P/E) ratio, while the average P/E of the Automotive Sector (as of April 25, 2006) was 11.42 times.
SECC is an importer and distributor of imported vehicles, including sports car, sedans and coupes, multi-purpose vehicles (MPVs), sport-utility vehicles (SUVs) and other models that reflect customer demand, e.g., bullet-proof cars, camping vans, and mini-buses. SECC provides a full range of services from importing and distributing, to after-sales servicing, e.g., maintenance, car parts, machinery service, and other large-scale services that require professional care.
The company has five branches and two dealers in Bangkok, plus a dealer in Khon Kaen Province. SECC plans to utilize the THB 291 million raised to repay debts and expand its branch network, so as to enhance its distribution channels and hence its customer base.
Principal SECC shareholders are Mr. Sompong Witthayaraksan, who holds 30% of the company’s paid up capital after the IPO, as well as Mr. Phaibul Suksuthamawong and Mr. Somchai Sriphayak both holding 7.5% stakes each.
For more information on SECC, please visit its corporate website at www.secgroup.co.th , SETTRADE.Com’s website at www.settrade.com , or SET’s website at www.set.or.th .
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