briefs

Srivichai Vejvivat (VIH) will start trading on the Stock Exchange of Thailand on May 9, following the successful initial public offering on April 30 and May 2. 

Montri Sornpaisarn, CEO of Maybank Kim-Eng Securities (Thailand) which is the financial adviser and underwriter of the IPO, said earlier that the shares were oversubscribed. He attributed the oversubscription to investor confidence in the company’s business outlook. 

Srivichai is a unit of Vichaivej Hospital Group. It sold 135 million shares at Bt1.25 apiece through the IPO.

 

Renovation boom     

Home Products Centre showed sales growth of 15 per cent in the first quarter of this year due to the demand for products for renovation after last year’s floods, company senior vice-president Nat Jaritchana said.

The company also had a grand opening of its new branch at Mega Bangna, with an investment of Bt190 million. It is expected to maintain sales growth of at least 15 per cent this year. This is the 47th branch as part of its business plan to open three new branches this year. The next two branches will be located in Buri Ram province and in Songkhla’s Hat Yai district. 

 

Ford sales surge  

Ford Thailand yesterday reported that its overall retail sales increased more than 34 per cent year on year to 12,518 vehicles in the first four months of this year, while retail sales in April were 2,550 units.

The strong 2012 performance is being driven by the Ford Fiesta, with year-to-date retail sales rising more than 28 per cent to 7,141 units, and the Ford Ranger, with sales jumping more than 65 per cent to 4,386 units. The redesigned Ford Focus will be the first vehicle built at the  company’s state-of-the-art manufacturing facility in Rayong.