Bangkok--31 Aug--SET
Southern Steel PCL raised THB114 million (approx. USD3.35 million) to expand its business and increase its capacity in manufacturing and distributing steel products with its one-stop service. The company will be listed on the Market for Alternative Investment (mai) and commence trading on September 2, using “2S” as its trading symbol. The company will be the sixth firm listing on mai in 2009, reported SET Group Head, Issuer & Listing Department and mai President Chanitr Charnchainarong.
Southern Steel PCL (2S) is a manufacturer and distributor of steel products and steel sheets in the south and northeast of Thailand, under the trade name “SS.” At present, the company has a factory in Songkla, southern Thailand, and is the first and only steel products manufacturer distributing in the south and Malaysia.
2S has a total paid-up capital of THB200 million (approx. USD5.87 million), consisting of 140 million existing common shares and 60 million capital increase shares, with a par value of THB1.00 each. At its initial public offering (IPO) on August 19-21, the company raised THB114 million (approx. USD3.35 million), by offering 50 million shares to the general public and 10 million shares to patrons at THB1.90 per share. The funds raised will be used for working capital. Country Group Securities PCL was its financial advisor and underwriter.
The firm's dividend payment policy is to pay no less than 40% of net profits after corporate income tax, legal reserves and other reserves as specified by the company.
2S’s major shareholders after the IPO are the Pitisongswat, Nitipawachon, Deerungroj, Panyapiamsak and Wongsatitporn groups, and Mr. Sombat Leeswadtrakul, who hold 10.95%, 10.91%, 8.46%, 8.40% 6.66% and 6.00 %, respectively, of the company's total shares after the IPO.
For more information about Southern Steel PCL, please see the company's prospectus at the Securities and Exchange Commission's website, www.sec.or.th; for general information on the company, please visit www.ss.co.th, www.set.or.th or 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