The Thai Market for Alternative Investment (mai)’s first listing this year will be Vintage Engineering PCL it will list on March 9, after raising funds of THB32 million (approx. USD 1.05 million), using the trade symbol “VTE”.
VTE is an engineering contractor, providing a comprehensive range of construction engineering service, with clientele from the real estate and hotel businesses, industrial factories and government agencies. The company, which generally handles projects worth THB30 million to THB300 million, also provides engineering maintenance and repair services for buildings to both state and private clients, noted mai President
Chanitr Charnchainarong.
VTE has a total paid-up registered capital of THB80 million (approx. USD2.62 million), consisting of 60 million existing common shares and 20 million shares from its capital increase on March 1-2, 2011, with a par value of THB1.00 per share. At its IPO, VTE offered its shares at THB1.60 each. Asia Plus Advisory Co., Ltd. was the company’s financial advisor and Asia Plus Securities PCL was the company’s underwriter.
VTE’s P/E ratio at its IPO price was 8.11 times, while its P/BV ratio was 1.38 times. VTE’s dividend payment policy is to pay no less than 50% of its net profit after taxes and legal reserves. Its three major shareholders after the IPO are Mr. Soraj Rojanabenjakul group (40.44%), Mr. Paiboon Thienpiriyatakul group (29.12%) and Mr. Supoj Chaikaewprong (5.69%).
For more information, please check out the company’s prospectus from the Securities and Exchange Commission (SEC)’s website at www.sec.or.th, and for general information of the company, please visit www.vintagethailand.com and www.set.or.th