Bangkok--2 Mar--SET
Thailand’s Market for Alternative Investments (mai) will list Thai Polycons PCL, a leading construction company which focuses on large projects, e.g., shopping malls, hospitals, industrial plants, power plants, and also provides decorating and renovating services. The company plans to spend its funds raised, worth THB 168 million (approx. USD 4.64 million), in buying tools and equipment and for working capital. The company will commence trading on March 4, using ‘TPOLY’ as their trading symbol, said SET Group Head, Issuer & Listing Department Chanitr Charnchainarong.
TPOLY has total paid-up capital of THB 360 million (approx. USD 9.94 million), consisting of 300 million existing common shares and 60 million capital increase shares, with a par value of THB 1.00 each. At its initial public offering (IPO) on February 18-20 and February 23-24, the company raised THB 168 million by offering 60 million shares to the general public at THB 2.80 per share. BFIT Securities PCL was its financial advisor and underwriter, while KTB Securities Co., Ltd. was its underwriter.
The IPO price reflects the company’s price/earning (P/E) ratio of 10.58, based on its performance in Q4/07 and 9M/08, while mai’s P/E ratio is 10.71 over the same period.
TPOLY’s dividend payment policy is to pay no less than 40% of net profit after taxes, legal reserves and other reserves, according to TPOLY’s financial statements.
TPOLY’s major shareholders are Mr. Charoen Chanpalangsri, Mr. Pathomphob chuenpanichkij, and Mr. Nrnonchai veeraprawat, who hold 56.94%, 2.78% and 2.78% respectively, of the company’s paid-up capital after the IPO.
For more information on TPOLY, please visit www.thaipolycons.co.th, mai’s website at www.mai.or.th, SETTRADE.com’s website www.settrade.com or contact S-E-T Call Center 0 2229 2222.