Car rental firm asap to list on SET

The company had a market capitalisation at its initial public offering Bt2 billion.
SET senior executive vice president, Santi Kiranand, said that ASAP would list on SET in the financials industry, Finance and securities sector. 
To serve customer needs in various industries, ASAP offers “total solutions” for car rental services, ranging from a self-driven short-term car rental service for individual customers to a self-driven long-term car rental service and a chauffeur-driven car rental service for corporate customers.
ASAP has a paid-up registered capital of Bt330 million, consisting of 450 million existing common shares and 210 million newly issued shares, with a par value of Bt0.50 each. 
During March 22-24, it offered 189 million newly issued shares to the general public and 21 million newly issued shares to its directors and management at Bt3.03 each, for a total of Bt636.30 million. 
Tisco Securities is the financial advisor and underwriter.
ASAP chief executive officer, Songvit Titipunya, said that this listing would strengthen ASAP’s financial capabilities. 
Songvit said the funda raised would be used to build a car service centre, asap Auto Park, at Bangna-Trad Road to serve the growing demand of long-term and short-term car rental businesses, with the centre expected to be completed by the first quarter next year.
The funds raised will also be used for debt repayment and working capital, Songvit added.