Bangkok--18 Aug--Integrated Communication
From previous road shows and meetings with both local and international investors, many of them have indicated their interests and asked both the Company and K.Thongma Vijitpongpun the possibility of divesting part of existing shares in order to enhance the liquidity of PS shares in the stock exchange. K.Thongma and the other major shareholder, therefore decided to sell part of their existing shares through an Overnight Private Placement to both local and international investors in total of 130 million shares or 5.89% of the total paid up capital at 23.0 baht per share. The main objective of this divestment is to increase the free float in the market which will further enhance the liquidity of Company’s shares and provide opportunity for investors to own PS shares.
Mr. Thongma Vijitpongpun, Chief Executive Officer of Pruksa Real Estate Plc, discloses that “During the past year, both local and international investors have shown tremendous interests in PS shares due to its outstanding business growth and ability to generate high returns. PS focuses on product quality, selling ability and our own construction capability. Modern construction technology and process have enabled the company to manage construction costs effectively. Furthermore, PS has continuously added new products into our portfolio such as CBD condominiums have expanded business into international markets and have continuously improved marketing strategy to better respond to the market.”
“I believe that this transaction would be beneficial to the liquidity of PS shares. Daily trading volume should gradually increases. Interested investors especially international institutional investors that were unable to invest in PS shares in the past due to limited liquidity will be able to make such investments. Moreover, this year should continue to be a remarkable year for the company, with PS being included as one of the SET 50 Index, the higher liquidity, and the growth of the business both domestically and internationally which is reflected through the recently announced second quarter results.”
The offering of 130 million secondary shares or 5.89% of total paid-up capital of the company through an Overnight Private Placement by Phatra Securities Public Company Limited as the Lead Manager and Underwriter was overwhelmingly received by both local and foreign investors. The offering was 1.8 times oversubscribed. After the transaction, K.Thongma will still be the largest shareholder in the Company with a shareholding of 58.6%. and the free float of PS stocks will increase by 5.89%.
For more information, please contact:
Call center 1739
http://pruksa.com/pressroom