Thai bourse welcomes secured loan provider SAWAD BANGKOK, May 7, 2014 – The Stock Exchange of Thailand’s (SET) welcomes Srisawad Power 1979 pcl, Thailand’s loan service provider to retail customers, on its main board on May 8, under the ticker symbol SAWAD, with a market capitalization at the initial public offering (IPO) price of THB 6.9 billion (approx. USD 212 million). SET Executive Vice President Chanitr Charnchainarong said that SAWAD would be listed in SETs Finance and Securities sector on May 8. SAWAD provides secured loans against all types of used vehicle, home and land, hire purchase of new motorcycle, as well as unsecured personal loans by providing convenient, fast and fair services. It has a total of 602 branches in greater Bangkok , as well as various provinces nationwide. It has a paid-up registered capital of THB 1 billion, consisting of 750 million existing shares and 250 million newly-issued shares, with a par value of THB 1.00 each. The company offered the new shares through an IPO at THB 6.90 per share during April 28-30, for the total of THB 1.73 billion. Asia Plus Advisory Co.,Ltd. is the companys financial advisor, while Asia Plus Securities pcl is its lead underwriter. Doungchai Kaewbootta, SAWAD’s managing director, said The listing on SET is a significant step of the company to grow sustainably. The fund raised will be used to expand loans and repay some debts. It will also be used for working capital, while strengthening the financial status and upgrading the public company’s best practice. This will fulfill our future expansion into the automobile loan market.” SAWADs three major shareholders after the IPO are Kaewbootta family (60.51 percent), Mongkol Soontornsuk (3.75 percent), Weerasak Kunpalin and Sutthisak Chaipradit (1.50 percent each). The IPO price had a price-to-earnings ratio (P/E) of 11.9 times, calculated by using its 2013 net profit, divided by the number of fully-diluted shares, representing earnings per share of THB 0.58. The P/E ratio was lower than 15.59 times, an average P/E ratio of the total SET-listed company (during March 19, 2014 – April 18, 2014). SAWAD’s dividend policy is to pay no less than 40 percent of net profits after tax and reserves. For more information on SAWAD, please find the companys prospectus on the Securities and Exchange Commissions website at sec.or.th and general information on the companys website at meebaanmeerod and set.or.th . SET Group: “Matching Your Right Financial Opportunities”
Posted on: Thu, 08 May 2014 00:13:41 +0000
Trending Topics
Recently Viewed Topics
© 2015