Bangkok--15 Sep--SET
Jasmine Telecom Systems PCL will be listed in Technology Industry Group of The Stock Exchange of Thailand (SET). The company raised about THB 560 million (approx. USD 14.93 million) for future business expansion and project bidding.
SET has approved Jasmine Telecom Systems PCL’s listing in the Information & Communication Technology (ICT) Sector, Technology Industry Group. Trading will commence on September 18, 2006, with “JTS” as the securities’ symbol, SET Executive Vice President Mr. Vichate Tantiwanich announced.
JTS has THB 700 million in paid-up capital, made up of an existing 525 million shares and 175 million shares in capital increase, each with a par value of THB 1.00. During September 6 - 8, the company sold its capital increase shares at its Initial Public Offering (IPO) at THB 3.20 per share.
Concurrently JTS is applying to SEC (Securities and Exchange Commission) to allocate five million common shares and 21.25 million warrants to its directors and employees under the Employee Stock Option Program (ESOP). This offering is expected to take place over the remainder of 2006. Subsequently, JTS’ paid-up capital will be boosted to THB 726.25 million shares.
The company’s price/earnings (P/E) ratio stands at 7.27, compared with the sector’s average of 13. Seamico Securities PCL acted as JTS’ financial advisor.
JTS is engaged in telecommunication systems integration, which entails the procurement, design and installation of telecommunications network systems. The firm also leases public telephones to TOT Corporation PCL, and acts as an exclusive agent supplying equipment and services for a foreign brand. Concerning dividend payment policy, JTS will pay out 40% of its net profits after corporate taxes and reserves.
JTS will use the IPO proceeds for business expansion, project bidding, and as working capital. After the IPO, the principal shareholders in JTS are Jasmine International PCL and Somers (UK) Limited, who hold 57.14% and 17.86% of the company’s paid-up capital respectively.
For more information on Jasmine Telecom Systems PCL, please visit its corporate website at www.jts.co.th , SET’s website at www.set.or.th , or SETTRADE.Com’s website at www.settrade.com
For more information, please contact the Corporate Communications 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