Country Group advising four firms on IPOs worth Bt3.7 bn
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Four companies will raise about Bt3.7 billion via initial public offerings this and early next year, according to their financial adviser, Country Group Securities.
Meanwhile, Filter Vision (FVC) made its trading debut yesterday with its price rising 128.33 per cent above the IPO price of Bt1.20 per share.
The four companies are G Capital, which is involved in agricultural equipment, CCN-Tech, which operates a software business, and two developers, Richy Place and JSP Property.
G Capital and CCN-Tech, which are in the process of submitting IPO filings to the Securities and Exchange Commission (SEC), will raise about Bt100 million each and list on the Market for Alternative Investment (MAI), Country Group managing director Chupong Tanasettakorn said. One of them is expected to start trading this year.
Richy Place is expected to submit its SEC filing this year to raise Bt500 million on expectation that it will debut on the Stock Exchange of Thailand (SET) early next year.
JSP Property’s filing to the SEC will be made in the first quarter of next year to list on the SET. Its IPO is expected to raise Bt3 billion.
FVC’s stock closed at Bt3.50 on the MAI, a Bt2.30 premium over its IPO price of Bt1.20.
Vijit Techakasem, managing director of FVC, expressed satisfaction with the stock’s performance, attributing it to investors’ confidence in the company’s fundamentals. This year, the company’s total revenue is expected to grow 18-20 per cent, while net profit is forecast to reach a level close to last year’s Bt15 million. Next year is expected to see a leap in profit after this year’s attempt to lower costs through large investment in human resources, IT and the logistics system.
According to the SET, Thai Agro Energy, an ethanol producer, has submitted a filing for a capital increase of 296 million shares, of which 96 million will be placed with its existing shareholder, Lanna Resources, 105 million will be offered to Lanna Resources’ shareholders and the rest will be sold to the public.
Finansia Syrus Securities acts as the financial adviser. The proceeds would be used to construct a biogas-fired power plant, repay debt and expand working capital.
It reported total assets of Bt2.6 billion and total liabilities of Bt1.49 billion. The IPO will dilute Lanna Resources’ 75.75-per-cent stake to 51 per cent.
