Bangkok--11 Dec--SET
Thailand's Market for Alternative Investment (mai) will list and trade Thanasiri Group PCL, a real estate developer, on December 15. The company will use “THANA” as its trading symbol, after raising funds to expand business horizons. THANA is the eleventh firm to list on mai this year, revealed Group Head, Issuer & Listing and mai President Chanitr Charnchainarong.
THANA focuses on developing housing and land for sale with an approximate area of 7-20 Rai and an average project life of two years, emphasizing on projects in Nonthaburi. The company’s subsidiary, Thanasiri Property Development Co., Ltd. (TPD), focuses on projects in Phuket. THANA uses three main brand names: Thanasiri,” a single house for high-income customers, and “The Cluster Ville” and “Prime Place,” townhouses and duplexes, respectively, for middle-income clients.
THANA has a total registered capital of THB255 million (approx. USD7.70 million), consisting of 200 million existing common shares and 50 capital increase shares with a par value of THB1.00 each. The company raised total funds of THB87.5 million (approx. USD2.64 million) by offering its 50 capital increase shares to the general public at THB1.75 per share. The company plans to spend the funds raised on working capital for current and future projects. The company also offered 5 million warrants (ESOP-Warrant) to its directors and employees. Asia Plus Advisory Co., Ltd. was its financial advisor and Asia Plus Securities PCL was its underwriter.
THANA’s dividend payment policy is to pay out no less than 40% of net profits after corporate tax and legal reserves. In 9M/2009, THANA posted net profits of THB36.02 million (approx. USD1.09 million), an increase of 93.50% over the same period last year. Meanwhile, its D/E ratio was 1.3 times as of September 30, 2009 (as indicated in THANA’s prospectus)
The company's P/E ratio at its IPO price was at 9.21 times, or a discount of 24.38% of the mai’s average P/E ratio of 12.18 times during three months (August 15, -November 15, 2009). The company’s major shareholders are the Streanraparp-Ar-Yut group, the Mahittivanicha group, and Mr. Jirat Tharapetchsawat, who held 78.24%, 1.78%, and 1.60%, respectively, of total shares after the IPO.
For more information about Thanasiri Group 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.thanasiri.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