Bangkok--22 Nov--SET
Having raised about THB 840 million (approx. USD 22.89 million), BFIT Securities PCL will be listed in the Financials Industry Group, Finance and Securities Sector, of The Stock Exchange of Thailand (SET). The funds raised are for branch expansion, working capital and IT system development in anticipation of future competition.
The firm’s securities will commence trading on November 22, using “BSEC” as their symbol, SET Executive Vice President Mr. Vichate Tantiwanich announced.
BSEC has THB 800 million in paid-up capital, each share having a par value of THB 1.00. This is made up of an existing 400 million shares, 199.995 million shares from the conversion of convertible debentures, 40 million capital increase shares allotted to shareholders of Bangkok First Investment and Trust PCL during November 1 - 7, and another 160.005 million capital increase shares allotted to the general public during November 1 — 10. Both portions of capital increase shares were sold at THB 4.20 per share. Siam City Security Co., Ltd. acted as BSEC’s financial advisor.
The company’s price/earnings (P/E) ratio stands at 11.67 compared with the sector and market averages of 11.74 and 8.46 respectively (as of October 25, 2006).
Currently, BSEC operates three core businesses: 1) securities brokerage, as a member of SET; 2) underwriting for equity and debt securities; and 3) securities registrar for bonds, debentures, preferred shares, and bills of exchange. Its dividend payment policy is to pay out no less than 50% of its net profits after corporate taxes and reserves.
After the IPO, the principal shareholders in BSEC are Bangkok First Trust Investment PCL and a group of four shareholders from the debenture conversion who hold 50% and 25% of the company’s paid-up capital respectively.
For more information on BFIT Securities PCL, please visit its corporate website at www.bfitsec.net , 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