ASEAN KEY DESTINATIONS
Thai alternative bourse to list Akkhie Prakarn on Feb 7
BANGKOK, February 5, 2013 – The Stock Exchange of Thailand (SET) welcomes Akkhie Prakarn pcl to its Market for Alternative Investment (mai). The company will list and start trading on February 7, under the ticker symbol “AKP”, after it raised THB 168 million (USD 5.66 million) via an initial public offering (IPO).
Chanitr Charnchainarong, mai president, said: "AKP is a subsidiary of Better World Green pcl (BWG) listed on SET. As the parent firm realizes the importance of building the financial strength and boosting the funding access opportunities of its subsidiary, it submitted a spin-off proposal to increase business opportunities.”
AKP has been granted the rights by the Department of Industrial Works, Ministry of Industry, to manage and operate the waste incineration center in Bangpoo, Samut Prakarn province, for 20 years (ending on February 10, 2028) and could ask for an extension for another 10 years. This waste center has the country’s first and only industrial waste incinerator able to handle hazardous industrial waste in form of gas, liquid, sludge, or solids, including infectious waste. It has a capacity of 120,000 tons per year.
AKP has a paid-up registered capital of THB 202 million, with a par value of THB 0.50 each, consisting of 320 million existing common shares and 84 million newly-issued shares. The company sold 21 million shares to BWG’s shareholders on January 23-25, and 63 million shares to the general public through an IPO on January 28-30 at THB 2.00 per share, for a total of THB 168 million. Country Group Securities pcl is its financial advisor and underwriter.
Vanchai Luengviriya, AKP President and CEO said: "The company is delighted to list on mai. AKP operates and manages the sole industrial waste incinerator that is safe to the environment in ASEAN. As this business needs experts with extensive experience, we have no direct competitors yet. Fundraising proceeds will be used for working capital to support AKP business growth."
AKP's three major shareholders after the IPO are Better World Green pcl (BWG) 51.18% Mr.Thanadol Raksabul 24.75% and Yamazen Holdings Company Limited. 2.72%. AKP has a price-earnings (P/E) ratio) of 18.18 times, calculated using earnings per share over the last four quarters (from the fourth quarter of 2011 to the third quarter of 2012). The company's dividend policy is to pay no less than 50 percent of net profits after corporate taxes and reserves.
For more information on AKP, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.akkhie.com and www.mai.or.th
SET Group “Matching Your Right Financial Opportunities”
For more information, please contact S-E-T Call Center +66 (0) 2229 2222
Members of the media should contact the Public Relations Unit, Corporate Communications Dept.:
Kanokwan Khemmalai, tel: +66 (0) 2229 2048 / Arada Kultawanich, tel: +66 (0) 222 2796
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