Bangkok--23 Sep--SET
The Stock Exchange of Thailand (SET) approved Stars Microelectronics (Thailand) PCL as the first company to have its cap on income tax exemptions lifted because it will list on SET or the Market for Alternative Investment (mai). This lifting will start in 2009 and run until the end of the firm’s promotion period, and is in accordance with Board of Investment (BOI)-SET collaboration to support entrepreneurs seeking to list..
The company will trade in the Electronics Components Sector, Technology Industry Group starting September 24, using “SMT” as its trading symbol, revealed SET Chief Marketing Officer, Issuer & Listing Vichate Tantiwanich.
“Receiving income tax exemption privileges will aid the firm’s potential growth and profits. Companies interested in receiving these privileges must apply to the BOI within 2012, with no limit on the number of projects” said Mr. Vichate.
SMT is a world-class manufacturer and assembler of electronics parts, having marketing bases in Thailand and overseas, including the United-States and Europe. With the company’s capability in manufacturing electronics components, e.g., printed circuit boards for hard disk drive controllers, notebooks, and MP4 players, combined with its high-technology equipment and high accuracy that are in line with international standards, as well as its ability to reduce production cost as a result of tax privileges on imported raw materials and export promotion on its output, the company has received great attention and from its customers and enhanced its reputation. The company can continually expand its marketing bases.
SMT has a total paid-up capital of THB736 million (approx. USD21.82 million), consisting of 276 million existing common shares and 92 million shares from the capital increase, with a par value of THB2.00 each. At its initial public offering (IPO) on September 16-18, 2009, the company raised THB455.40 million (approx.USD13.50 million), by offering 92 million shares, or 25% of registered capital, to the general public at THB4.95 per share. The funds raised will be used in repaying debt to financial institutes. Tisco Securities Co., Ltd. was its financial advisor and underwriter.
SMT’s dividend policy is to pay no less than 40% of net profits after taxes and legal reserves. The company’s Board of Directors has approved in principle to pay out interim dividends from the company’s H1/2009 operating performance at THB0.14 per share to its shareholders after the IPO.
SMT's major shareholders after the IPO are Mr. Somnuk Chaikul and his group, Mr.Pitak Sirivanasandha and his group, and ITOCHU Corporation, who hold 42.55%, 6.68% and 5.23%, respectively, of the company's total shares.
For more information about Stars Microelectronics (Thailand) PCL, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; for general information on the company, please visit www.starsmicroelectronics.com , 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