Bangkok--11 Apr--SET
Rasa Property Development PCL will be listed in The Stock Exchange of Thailand’s (SET)’s Property & Construction Industry Group on April 12, after it raised THB 130 million (approx. USD 3.70 million) for property development in Bangkok’s central business district.
Rasa Property Development’s securities will be traded in the Property Development Sector, Property & Construction Industry Group, beginning April 12. The firm will use “RASA” as its trading symbol, SET Executive Vice President Mr. Vichate Tantiwanich said.
RASA has THB 400 million in paid-up capital, each share having a par value of THB 5.00. This is comprised of an existing 60 million ordinary and 20 million capital increase shares. At its initial public offering (IPO) on March 27 - 29, its capital increase shares were sold to the public and institutions (18 million shares) and the firm’s patrons (2 million shares) at THB 6.50 each.
The company’s IPO price reflected a price/earnings (P/E) ratio of 12.79 (based on RASA’s operational performance in 2006), compared to the sector average of 12.30 (Oct. 9, 2006 — Feb. 16, 2007). The firm’s dividend payment policy is to pay no less than 40% of its net profit after allocating reserves required by law. Trinity Advisory 2001 Co., Ltd. acted as the firm’s financial advisor
RASA develops single detached house and condominium projects located mainly in northern and western Bangkok. Its projects include single detached houses at Pathomporn Garden and Pathomporn Grandhome, and the Wilshire and Wilmore condominiums, Bangkok. The company plans to use the funds raised to invest in Rasa Park Lane project worth THB 613 million, to be built and sold in 2007. RASA intends to develop a further condominium project in the central business area.
After the IPO, the principal shareholders in the company are the Pinijchob Group and Ms. Acharaporn Siriphaivan, who hold 38.5% and 22.00% respectively of the company’s paid-up capital.
For more information on RASA, please visit their corporate website at www.rasa.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 / Sarinluck Jitkawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 / Watsamon Saowakhonsathien Tel: 0-2229-2797