ASEAN KEY DESTINATIONS
SET News 6/2013
Jan 28, 2013
Thai alternative bourse to list Energy Absolute on Jan 30
BANGKOK, January 28, 2013 – The Stock Exchange of Thailand (SET) welcomes Energy Absolute pcl to its Market for Alternative Investment (mai). The company will list and start trading on January 30, under the ticker symbol “EA”, with a THB 20.52 billion (USD 0.68 billion) market capitalization at the initial public offering (IPO) price.
Chanitr Charnchainarong, mai president, said: "EA will be the first new listing this year. It produces and distributes biodiesel, diesel, and glycerine. It also operates solar power plants starting building and distributes electricity since 2012 and expected to open for commercial in 2015 with a full capacity of 278 megawatts.
EA has a paid-up registered capital of THB 373 million, with a par value of THB 0.10 each, consisting of 3,170 million existing common shares and 560 million newly-issued shares. The company sold 560 million shares to the general public through an IPO on January 21-23 at THB 5.50 per share, for a total of THB 3.08 billion. Asset Pro Management Co., Ltd is the company's financial advisor, while Capital Nomura Securities pcl, Finansia Syrus Securities pcl, and SCB Securities Co.,Ltd. are the company's underwriters.
Somphote Ahunai, EA CEO, said: "It is our honor and pleasure that the company will list on mai, helping build the company’s image and financial strength. Fundraising proceeds will be used to build a 90-megawatt solar power plant in Nakorn Sawan and for working capital."
EA's three major shareholders after the IPO are the Ahunai group (44.36 percent), First Asia Investment Limited (12.62 percent), and the Chiannilkulchai group (5.62 percent). EA has a price-earnings (P/E) ratio) of 254.45 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 30 percent of net profits after corporate taxes and reserves.
For more information on EA, 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.energyabsolute.co.th and www.mai.or.th
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