Truck-trailer manufacturer plans IPO
Cho Thavee Dollasien, a manufacturer of truck-transport equipment, has filed for an initial public offering of 200 million shares in the Market for Alternative Investment in the second quarter of the year.
Sonpop Sakpanpanom, chief executive officer of Asset Pro Management Co, financial adviser of Cho Thavee Dollasien, said the filing was made to the Securities and Exchange Commission on Tuesday. The IPO will comprise 200 million shares at par value of Bt0.25 each or about 27.78 per cent of its registered capital.
Cho Thavee Dollasien designs and develops bodies and engineering for commercial vehicles.
The company reported revenue of Bt669.35 million and net profit of Bt24.01 million in 2011, and revenue of Bt467.41 million and net profit of Bt19.16 million in the first nine months of last year.
It has a backlog worth Bt146.69 million to be delivered to its customers this year.
Suradej Thaveesangsakulthai, Cho Thavee Dollasien managing director and CEO, said the company had long experience in developing its technology to support the commercial transport system and gleaned know-how from global firms including BAE Systems, Siemens, Hanaoka and Morita.
“Our business strategy is to be a market leader in this technology,” he said.
On January 2, the company reported registered capital of Bt180 million in a combined total of 720 million shares but paid-up capital of only Bt130 million.
