Thai alternative bourse to list Thanapiriya on November 18

Wednesday 18 November 2015 09:08
Market for Alternative Investment (mai) will list Thanapiriya pcl, the first local supermarket operator ever listed on mai on November 18, under the ticker symbol "TNP". The company has a market capitalization at its initial public offering (IPO) of THB 1.4 billion (approx. USD 38.9 million).

mai President Prapan Charoenprawatt said that TNP would list and start trading on mai in the Services industry group. The company currently operated one wholesale store, and 11 supermarket stores named "Thanapiriya", in Chaingrai province, the northern part of Thailand, selling an extensive range of consumer goods (excluding fresh food).

TNP has a paid-up registered capital of THB 200 million, consisting of 600 million existing common shares and 200 million newly issued shares, with a par value of THB 0.25 each. During November 11-13, it offered newly issued shares to the general public at THB 1.75 each, for a total of THB 350 million. RHB Securities (Thailand) pcl was its financial advisor and lead underwriter.

TNP Managing Director Thawatchai Phutthiphiriya said that for more than 25 years, TNP has built up own business in Chaingrai with true understanding of local lifestyle under strategic location and effective warehouse management, in such a way that the company could expand to 12 branches in this hometown. This fund raised would be used for further branch expansion, distribution hubs construction, debt repayment as well as working capital in order to serve the growing demand from tourism and the ASEAN Economic Community (AEC).

TNP's three major shareholders after the IPO are Phutthiphiriya Group (72.50 percent), Phanwongklom Group (3.75 percent), and Suwit Sirigrivatanawong (1.19 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 40.17 times calculated by using the company's net profit in the past four quarters (October 1, 2014-September 30, 2015) which was THB 34.74 million, divided by fully diluted shares, representing earnings per share of THB 0.04. TNP's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.

For more information on TNP, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.thanapiriya.co.th , as well as www.set.or.th.

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