Asia Precision IPO at Bt5.45
Asia Precision yesterday priced its initial public offering shares at Bt5.45 apiece so that they would trade on their market debut above the IPO price.
"The company's IPO is attractive because of the reasonable price. Its price-to-earnings ratio is 12.6 times, compared to the industry average of 14.5 times," Natrrarin Tanthong, executive chairwoman of Kasikorn Securities Co, said yesterday. Demand during book building was more than seven times the IPO shares on offer, she said.
Asia Precision, an auto parts manufacturer, plans to offer 87.25 million shares, with 80 per cent to be sold to the public and the rest to institutional investors.
Subscriptions open from tomorrow to Friday. The first day of trading is expected on September 29.
Apichart Karoonkornsakul, president of Asia Precision, said the IPO proceeds would be used to expand production capacity in response to the growing auto industry.
