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NEWS UPDATES Asean Affairs   4 September 2013  
Thai alternative bourse to list Sea Oil on September 5
The Stock Exchange of Thailand (SET) welcomes Sea Oil pcl to its Market for Alternative Investment (mai). The company will list and start trading on September 5 under the ticker symbol "SEAOIL", after raising THB 241.5 million (USD 7.6 million) through an initial public offering (IPO).

SET Senior Vice President Paveena Sriphothong said that SEAOIL will be the ninth new listing on mai this year. The company supplies diesel, fuel oil, gasoline, and lubricant products to all kinds of ships in Thailand and abroad, as well as to manufacturing, land transportation, and passenger vehicles, etc. In addition, it provides catering service, materials, and other services to accommodation barges, vessels, and oil and gas rigs at sea.

SEAOIL has a paid-up registered capital of THB 180 million, with a par value of THB 1.00 each, consisting of 110 million existing common shares and 70 million newly-issued shares. Of the new share issue, 62.3 million shares were offered to the general public through an IPO, and 7.7 million shares to the company and Group of Nathalin Co.,Ltd ’s directors and management. The IPO was on August 26-29 at THB 3.45 per share, for a total of THB 241.50 million. Sage Capital Co., Ltd. is the company's financial advisor, while KGI (Thailand) Securities pcl is the company's underwriter.

Neeracha Panboonhom, Managing Director of SEAOIL, said that the firm was really pleased to list on mai. The listing would help boost the company’s image and financial strength, as well as to support its business expansion regionally.

SEAOIL's three major shareholders after the IPO are Nathalin Co.,Ltd. (47.22 percent),  Panboonhom Group (12.11 percent), and Apisit Rujikiatkumjorn (2.78 percent). The IPO price was set by using a market-comparable price in the industry. The IPO price had a price-earnings (P/E) ratio) of 7.93 times, calculated using earnings over the last four quarters (from the third quarter of 2012 to the second quarter of 2013), divided by the number of fully-diluted shares, or earnings per share at THB 0.44. The company's dividend policy is to pay no less than 30 percent of net profits after corporate taxes and reserves.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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