mai welcomes integrated logistics operator Sonic Interfreight on October 19

Stocks and Financial Services Press Releases Thursday October 18, 2018 17:18
Bangkok--18 Oct--SET

Market for Alternative Investment (mai) will list Sonic Interfreight pcl, a total logistics services provider, on October 19, under the ticker symbol "SONIC". The company has a market capitalization at its initial public offering (IPO) of THB 1.07 billion (approx. USD 32.5 million).

mai President Prapan Charoenprawatt said that SONIC would list and start trading on mai in the Services Industry Group. SONIC, together with its subsidiaries, provides a full range of logistics management services, by arranging air and sea freight, and ground transportation for both inbound and outbound shipments. Its warehouse and distribution center is located in Samut Prakan province. SONIC also offers cross-border transportation service to Cambodia.

SONIC has a registered capital of THB 290 million with a registered paid-up capital of THB 275 million, consisting of 400 million existing common shares and 150 million newly issued shares, with a par value of THB 0.50 each. It offered 128 million newly issued shares through underwriters, 7 million to patrons of the companies and subsidiaries, and 15 million to employees of the companies and subsidiaries during October 8 - 10, 2018 at THB 1.95 each, for a total of THB 292.5 million. Globlex Securities Co.,Ltd. is its financial advisor and lead underwriter. Moreover, SONIC has granted its executives and employees 30 million units of Employee Stock Option Program (ESOP) warrants with the exercise period not exceed than 5 years, exercise price equal to IPO price and the first exercise period was set after 2 years of issuance. SONIC Chief Executive Officer Santisuk Kosiarpanant said that the company specializes in logistics system management with over 22 years of experience, offering complete range of services to help increase inbound and outbound freight management efficiency, with strong alliance networks in 134 countries worldwide. Listing on mai would strengthen the company's capital base and the fund raised would be used to expand the truck fleet, build warehouse and distribution center, acquire land and building for the Laem Chabang office, improve information technology and as working capital.SONIC's three major shareholders after IPO are Santisuk Kosiarpanant Group (62.25 percent), Ranat Lieolertsakulchai Group (4.80 percent), and Saowalak Ninwaeo Group (1.71 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 21.67 times, calculated by using the company's net profit in the past 12 months (July 1, 2017-June 30, 2018) amounting to THB 48.96 million, divided by fully diluted shares, representing earnings per share of THB 0.09. SONIC's dividend policy is to pay no less than 50 percent of net profit after corporate income tax and legal reserves.

For more information, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.sonic.co.th , as well as www.set.or.th.


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