SET News :mai to list industrial equipment distributor “SiamEast Solutions” on February 14

BANGKOK, February 10, 2017 – Market for Alternative Investment (mai) will list

SiamEast Solutions pcl, an industrial equipment distributor, on February 14,

under the ticker symbol “SE,” as the first newly-listed company on mai in 2017.

The company has a market capitalization at its initial public offering (IPO) of

THB 588 million (approximately USD 16.8 million).

mai President Prapan Charoenprawatt said that SE would list and start trading on

mai in the Services industry group. SE distributes more than 3,500 industrial

equipment items of more than 40 world-class brands, as well as providing related

services. It products cover pumping system technology, process and piping

solution and innovative materials, to clients across various types of industrial

production relating to utility, pipeline system and maintenance such as

petrochemical, oil and gas, chemical product industries, and more.

SE has a paid-up registered capital of THB 120 million, consisting of 180

million existing common shares and 60 million newly issued shares with a par

value of THB 0.50. During February 6-8, it offered newly issued shares to the

general public via IPO, at THB 2.45 each, for a total of THB 147 million. RHB

Securities (Thailand) pcl is the financial advisor and underwriter.

SE chief executive officer Orasa Vimolchalao said that SE’s dedicated to

delivering fine selection products from leading industrial brands with

world-class quality of international standard. This listing would allow SE to

raise capital to strengthen SE’s operation systems while enhancing its business

growth. The fund raised would be used to invest in engineering service center,

buy new machinery and equipment, and as working capital to fulfill the company’s

goals.

SE’s three major shareholders after the IPO are Orasa Vimolchalao’s family group

(61.83 percent), Saengpet Tantaatipanit (10.33 percent) and Krittika Puawilai

(3.54 percent). The IPO price was equivalent to price-to-earnings ratio (P/E

ratio) of 24.80 times calculated by using the company’s net profit in the past

four quarters (October 1, 2015-September 30, 2016) of THB 23.71 million, divided

by fully diluted shares, representing earnings per share of THB 0.10. SE’s

dividend policy is to pay no less than 40 percent of net profits after taxes and

reserves.

For more information on SE, please see the company’s prospectus at the

Securities and Exchange Commission’s website at www.sec.or.th and general

information, please visit www.siameast.co.th , as well as www.set.or.th.

“SET… You Grow, We Groom”

Source: The Stock Exchange of Thailand

Post Author: thailandmirror.com