Two companies seek listing despite poor sentiment
The Stock Exchange of Thailand will welcome two new listed companies, despite the shaky market sentiment.
The SET Index yesterday lost 24.70 points or 1.79 per cent, to close at 1,352.13 points. Turnover was thin at Bt28.6 billion. The market is under foreign selling pressure. Foreign net-sells yesterday, worth Bt2 billion, raised the month-to-date net-sells to Bt17 billion. Year to date, foreigners have sold Thai shares for Bt103.6 billion net.
JWD InfoLogistics, an integrated logistics service provider, will today (29) make a debut on the Stock Exchange of Thailand.
Last week, the company raised Bt1.32 billion through 120 million initial-public-offering shares at Bt11 a share.
According to a research report, JWD is expected to see its trading price in a range of Bt13.60-Bt14.20 a share on its first trading day.
JWD chief executive officer Chawanin Bunditkrisada said the proceeds would finance its warehouse expansion in the country and abroad, and be used as working capital. It is constructing warehouses in Cambodia, Laos and Myanmar on expectation for completion in the second quarter of 2016.
JWD's advantage lies in the 30-year contract to handle all hazardous goods shipment at Laem Chabang Deep Sea Port. The proceeds from the IPO are to mainly finance depot expansion in Cambodia, Myanmar and Laos.
Meanwhile, Thaifoods Group (TFG) yesterday appointed KT ZMICO Securities as lead underwriter of its initial public offering and Trinity Securities, Finansia Syrus, Country Group Securities, and Bualuang Securities as co-underwriters.
TFG will launch around 1.1 billion shares in the IPO and will later seek listing on the Stock Exchange of Thailand. The shares are priced at Bt1.95 per share. The IPO shares will be available for subscription from today through Friday (September 29 to October 2) before debuting on the SET on October 8.
