Bangkok--24 Feb--SET
Asia Green Energy PCL, an importer and distributor of high quality clean coal from Indonesia and distribute to industries, will commence trading on the Thai bourse’s Market for Alternative Investment (mai) on February 26, after raising funds worth THB227.50 million (approx. USD 6.36) to construct and improve its plants and screening site at Petchaburi, and use as working capital.
Asia Green Energy PCL will use “AGE” as its trading symbol, said SET Group Head, Issuer & Listing Department and mai President Chanitr Charnchainarong.
AGE now has a total paid-up capital of THB 140 million (approx. USD 3.91 million), consisting of 105 million existing common shares and 35 million capital increase shares, with a par value of THB 1.00 each. At its initial public offering (IPO) on February 17-19, the company raised offered 35 million shares to the general public at THB 6.50 per share. Asset Pro Management Co., Ltd. was its financial advisor. Capital Nomura Securities PCL and Syrus Securities PCL were its underwriter.
AGE’s dividend payment policy is to pay no less than 40% of net profits after tax and legal reserves. AGE’s IPO price reflects the company’s price/earning (P/E) ratio of 7.85, while mai’s P/E ratio on February 11, 2009 was at 7.65 (As indicated in AGE’s prospectus, AGE’s P/E ratio was calculated from net profits per share from January 1, 2008-December 31, 2008 (based on net profits for 9M/2008, less provision on inventory for Q4/2008 and loss from reduction in remaining inventory of THB14.41 million, divided by 140 million shares.)
AGE’s major shareholders are Mr. Panom Kuansataporn, Ms. Sudee Unnawat, Mr. Kitichai Dajpaiboonyos, who hold 65.56%, 3.57% and 3.57%, respectively, of the company’s paid-up capital after the IPO.
For more information, please visit www.agecoal.com, www.mai.or.th, www.settrade.com or phone S-E-T Call Center at 02 229-2222.
For more information, please contact Public Relations Unit, the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 /
Kanokwan Khemmalai Tel: 0-2229-2048 /
Panitee Chatpolarak Tel: 0-2229-2792