Bangkok--7 Aug--SET
Ekarat Engineering PCL (AKR), a producer and distributor of distribution transformers and solar cell energy systems, is to list on The Stock Exchange of Thailand (SET), and will be part of the Resources Group (Energy and Utilities Sector). The company will spend THB 491.4 million investing in new plant and machinery for its solar cell project.
The firm will commence trading on August 7, with “AKR” as its trading symbol, SET Executive Vice President Mr. Vichate Tantiwanich stated.
AKR has THB 790.17 million (approx. USD 20.8 million) in paid-up capital, consisting of an existing 608.17 million shares, plus 182 million shares in capital increase, all with a par value of THB 1.00. On July 25 - 27, the company sold capital increase shares during its initial public offering (IPO) to AKR’s, and its underwriters’, benefactors at THB 2.70 per share. Far East Securities Co., Ltd. acted as AKR’s financial advisor.
The IPO price for AKR was 9.31 times its price/earnings (P/E) ratio, with earnings based on the company’s performance in 2005.
AKR provides transformers together with maintenance, modification and repair services. The company also produces and distributes solar cell systems through Ekarat Solar Co., Ltd., an AKR subsidiary. A new solar cell factory worth THB 1.4 billion is to be constructed to service both domestic and overseas markets.
AKR will use THB 470 million from its fund-raising to invest in Ekarat Solar, while keeping some funds as working capital. AKR’s policy is to pay 50% of the company’s net profits in dividends after corporate taxes and payments to reserves.
Principal AKR shareholders are Noichaiboon Group and management, Kamnerdngarm Group, and Mr. Chulchit Bunyaketu, holding 17.89%, 12.78%, and 8.42% of the company’s paid-up capital respectively.
For more information on AKR, please visit its corporate website at www.ekarat-transformer.com , 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