Thai alternative bourse to list Sanko Diecasting (Thailand) on May 9
BANGKOK, May 9, 2013 - The Stock Exchange of Thailand (SET) welcomes Sanko Diecasting (Thailand) pcl to its Market for Alternative Investment (mai). The company will list and start trading on May 9, under the ticker symbol "SANKO".
Chanitr Charnchainarong, mai president, said: "SANKO is the fifth company to list on mai this year. It is a comprehensive manufacturer of Aluminium and Zinc components for the automotive and electronics industries using high-pressure diecasting.”
SANKO focuses on manufacturing Aluminium and Zinc parts for cars and motorcycles. Its major products include parts for alternators, starters, clutches and automatic transmissions. In addition, SANKO has extended its customer base to the electrical appliance and agricultural machinery industries, including parts of CCTV and video cameras, lawn mowers, and tractors. SANKO is determined to maintain its recognized quality standards and its on-time and well-managed production system to create the highest satisfaction for customers.”
SANKO has a paid-up registered capital of THB 110 million, with a par value of THB 0.50 each, consisting of 176 million existing common shares and 44 million newly-issued shares. The company sold 44 million shares to the general public through an IPO on April 29-30 and May 2 at THB 1.30 per share, for a total of THB 57.2 million. Capital Nomura Securities pcl is its financial advisor and underwriter.
SANKO also issued 6 million units of 5-year non-transferable warrants to the company’s directors and employees. A holder of each warrant has the right to buy one SANKO share at THB 0.50. At the first exercise, warrant-holders are allowed to exercise up to 25% of total warrants held during the first six months after the date of issue.
Rattawat Suksaichol, SANKO Deputy CEO, said: "The company is delighted to list on mai. Fundraising proceeds will be used to expand our manufacturing factories and purchase machinery to better serve our diversified customers’ needs. SANKO will grow along with the Thai automotive industry."
SANKO's three major shareholders after the IPO are the Pinthong Group 40.28%, V-Net Capital Group 22.36% and Masami Katsumoto Group 17.00%. SANKO has a price-earnings (P/E) ratio of 14.83 times, calculated using earnings per share over the last four quarters (from January to December of 2012). The company's dividend policy is to pay no less than 30 percent of net profits after corporate taxes and reserves.