Bangkok--15 Jun--SET
The Stock Exchange of Thailand (SET) will list Toyo-Thai Corporation PCL in the Property and Construction Industry Group and commence trading on June 16, 2009, using “TTCL” as its trading symbol, said Chief Marketing Officer, Issuer & Listing, Vichate Tantiwanich.
TTCL provides integrated services for turnkey projects, mainly to the energy, petrochemical, and chemical industries. The company has paid-up registered capital of THB480 million, consisting of 350 million existing common shares and 130 million capital increase shares, both at par value of THB 1.00 per share. The company raised THB552.5 million (approx. USD16.21 million) at its initial public offering (IPO) during June 9-11 by offering 130 million shares to the general public at THB4.25 per share. The company plans to use the fundraised as its working capital to support large projects, both domestically and overseas. Tisco Securities PCL acted as financial advisor.
TTCL’s dividend payment policy is to pay no less than 50% of net profits after legal reserves and other reserves. The company’s IPO price reflects a price/earnings (P/E) ratio of 6.5, or approximately 50% of the PROP sector’s P/E of 12.90 (as of June 11, 2009).
The firm’s major shareholders are Toyo Engineering Corporation, Italian-Thai Development PCL shareholders (including the Karnasuta family), and the company’s board of directors and executives of Global Business Management Co., Ltd., which hold 26%, 16.71% and 6.67%, respectively, of the company’s total shares.
For more information about Toyo-Thai Corporation PCL, please see the company’s prospectus at the Securities and Exchange Commission (SEC)’s website www.sec.or.th, or visit the website of the firm, at www.toyo-thai.com; of SET, at www.set.or.th, or of Settrade, at www.settrade.com.
For more information, please contact S-E-T Call Center 0 2229 2222
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