Thai bourse welcomes water purifier maker Thiensurat BANGKOK, June 18, 2014 – The Stock Exchange of Thailand (SET) welcomes Thiensurat pcl, a water purifier manufacturer and distributor under the brand “SAFE”, on its main board on June 19, under the ticker symbol “TSR.” SET Executive Vice President Chanitr Charnchainarong said that TSR would be listed in SETs Home and Office products sector, with a market capitalization at the initial public offering (IPO) price of THB 1.2 billion (approx. USD 37.05 million). TSR manufactures water purifiers and distributes through single level direct sales in Bangkok and suburbs as well as major provinces. Thanks to its modern design, efficient technology, quality direct salespersons and after-sales services, TSR gained 16 percent market share of the total water purifier market in 2013. It has a paid-up registered capital of THB 344 million, consisting of 258 million existing shares and 86 million newly-issued shares, with a par value of THB 1.00 each. The company offered the new shares through an IPO during June 11-13 at THB 3.50 per share for THB 301 million. Thanachart Securities pcl is the companys financial advisor and lead underwriter. Werawat Changyoo, TSRs CEO, said that listing on SET will boost the company’s financial strength and upgrade its operation in compliance with public company’s practices. Proceeds of the fundraising would be used to build the fourth new plant, expand branches, increase service centers nationwide and develop new products applicable for water quality in each area on various demands. In addition, it will be used to boost modern sales channel catering to customers’ trendy lifestyle. Importantly, the listing will also truly lead the company towards sustainable growth. TSRs three major shareholders after the IPO are Changyoo family (67.20 percent), Sirisab and Watcharatham families (2.84 percent), Miss Sucheera Techaplalerd(2.62 percent). The IPO price had a price-to-earnings ratio (P/E) of 16.32 times, calculated by using the four latest quarterly net profits (from Q2/2013 to Q1/2014), divided by the number of fully-diluted shares, representing earnings per share of THB 0.21. TSRs dividend policy is to pay no less than 40 percent of net profits after corporate taxes and reserves. For more information on TSR, please find the companys prospectus on the Securities and Exchange Commissions website at sec.or.th and general information on the companys website at thiensurat and set.or.th . SET Group: “Matching Your Right Financial Opportunities”
Posted on: Thu, 19 Jun 2014 01:38:32 +0000
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