Successful debut for TMC Industrial
TMC Industrial Plc, a hydraulic-press producer, witnessed a successful debut, as its share price rose 107.69 per cent above Bt3.90 IPO price despite a fall in the composite index. At one point, it soared 182 per cent.
The stock closed at Bt8.10, while the SET Index lost 15.58 points or 1.20 per cent to 1,281.81 points on turnover of Bt33 billion.
TMC, listed on the Market for Alternative Investment, plans to build a new plant in the next quarter to boost production capacity by nearly 30 per cent and drive revenue next year to Bt1 billion.
Managing director Surachet Kamolmongkolsuk said the first phase of the plant would be completed by mid-year and the second phase in 2014. The two phases will help increase capacity by 60 per cent. Based on the new capacity, annual revenue should increase by 25 per cent.
TMC predicts that its revenue this year will grow by 30 per cent, thanks to the bright outlook of the automotive industry. The company has a backlog of Bt422 million, which will generate revenue from this year.
