Bangkok--25 Mar--SET
Halcyon Technology PCL will be listed on the Market for Alternative Investment (mai) and will commence trading on March 27, after raising THB61.12 million (approx. USD1.73 million).
Halcyon Technology PCL will use "HTECH" as its trading symbol, said SET Group
Head, Issuer & Listing Department and mai President Chanitr Charnchainarong.
HTECH, a manufacturer of diamond cutting tools and high precision parts, including jigs, fixtures and holders, now has a total paid-up capital of THB220 million (approx. USD 6.23 million), consisting of 179.25 million existing common shares and 40.75 million capital increase shares, with a par value of THB1.00 each. At its initial public offering (IPO) on March 19-20, 2009, the company raised THB61.12 million by offering 40.75 million shares to the general public at THB1.50 per share to improve its machinery, expand its business, repay debts, and use as working capital. HTECH had been approved to offer its capital increase of 60.75 million shares to the public, but HTECH decided to offer only 40.75 million shares. The company will allocate the remaining 20 million shares at a later date. Phillip Securities PCL was its financial advisor and underwriter.
HTECH’s dividend payment policy is to pay twice a year and no less than 40% net profits after tax and legal reserves. HTECH’s IPO price reflects the company’s price/earning (P/E) ratio of 4.65*, while mai’s P/E ratio during December 14,2008 — March 13, 2009 was at 7.58.
HTECH’s major shareholders are Mr. Pete Rimchala, Mr. Viboon Rujiraksathorn, Mr. Chua Cheng Khuan, Single Point Parts (Thailand) PCL, and Mr. Kittisak Saengchuentanom, holding 29.68%, 18.78%, 12.73%, 3.64% and 3.63%, respectively, of the company’s paid-up capital after the IPO.
For more information, please visit www.halcyon.co.th or www.mai.or.th, or phone
S-E-T Call Center at 02 229-2222.
[As indicated in HTECH’s prospectus, HTECH’s P/E ratio of 4.65 was calculated from net profits per share of the net profits as of December 31,2008 divided by the number of paid-up capital shares after the IPO (fully diluted), which was THB0.32 per share. HTECH’s IPO price reflects a discount of approximately 38.67% of mai’s P/E ratio.]
Press office, 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