Three companies ready to launch IPOs

In filings to the Securities and Exchange Commission, Fortune Parts – one of the world’s top |five pickup truck part suppliers |– will put up 33 million shares |for sale.

Asia Plus Securities estimated the company’s fair value at Bt4.95-Bt5.40 against Bt1 par value, or about 11 to 12 times its prospective earning of Bt0.45 in 2012. Fortune Part’s performance is expected to get a boost from robust demand in the country and export markets. With capacity and warehousing expansion, sales revenue is tipped to rise by 18 per cent on average during this and next year.

Fortune Parts Industry |also plans to hold roadshows |in Hat Yai, Bangkok and |Chiang Mai before launching its initial public offering on the Market for Alternative Investment in the third quarter of this year.

CEO Sompol Thanadum-rongsak said the firm’s financial records showed strong growth |since 2009, recording total revenue of Bt955 million in 2009, which rose to Bt1.3 billion in 2011. Total revenue in the first half this year was Bt735 million and net profit Bt63m.

"We believe our business will show strong growth this year following rising demand for auto accessories," he said.

Ananda Development will put 1.33 billion shares up on offer with 333 million warrants, while Hot Pot will offer 61.38 million shares.