Thai alternative bourse to list Project Planning Service on September 26

Stocks and Financial Services Press Releases Wednesday September 26, 2012 15:39
Bangkok--26 Sep--SET

The Stock Exchange of Thailand (SET) welcomes Project Planning Services pcl, an engineering service firm, to its Market for Alternative Investment (mai). The company will list and start trading on September 26, under the ticker symbol "PPS" after it raised THB 84 million (approx. USD 2.71 million) through an initial public offering (IPO).

PPS provides comprehensive services for engineering, architecture, and construction, including civil construction, electric, mechanic, plumbing and sanitary systems, as well as interior design and other aspects of project management from initial conception to completion of the project, including continuation of services and maintenance tasks. The company is well-recognized widely in the engineering industry and is one of Thailand’s leading consulting engineer service providers. Comprised of highly skillful and professional teams, the company has enjoyed promising growth and has effective operations that will enable it to fulfill its potential.

Chanitr Charnchainarong, mai president, said: "PPS is the country’s leading provider of engineering consultant and project construction management services. With more than 25 years of providing professional engineering advices, PPS has successfully completed more than 100 projects, including the Bank of Thailand’s head office, Baiyoke 2 building, The Offices@Central World, the Blue-Line mass transit train, and Central Plaza Rama 9. All projects are recognized for their engineering excellence.”

PPS has a paid-up registered capital of THB 100 million, with a par value of THB 0.25 each, consisting of 280 million existing common shares and 120 million new shares. It sold 120 million shares via IPO at THB 0.70 per share, for a total of THB 84 million during its IPO on September 17-19. The proceeds will be used to buy design programs for computer, increase the number of professional for design service, and for working capital. Asset Pro Management Co., Ltd. is the company’s financial advisor, and Finansia Syrus Securities pcl is the company’s underwriter.

Prasong Tharachai, Chairman of PPS, said: "We are really pleased to become a listed company on mai. PPS is Thailand’s first engineering advisory and project construction management service provider to be listed on mai. We strongly believe the fundraising will not only enlarge the potential of the company’s services by enabling it to offer a full range of construction services, but also reinforce the reliability of its professional management. This will help open business opportunities in cooperation with internal and overseas partners to take advantage of the upcoming ASEAN Economic Community.”

PPS's three major shareholders after IPO are Mr.Prasong Tharachai’s group (29.17 percent), Mr.Somphant Hongchintakul’s group (29.17 percent), and Mr.Tat Thongpak (1.40 percent). The IPO price of THB 0.70 per share represents a price per earnings ratio (P/E ratio) of 13.32 times, calculated by using earning per share during July 1, 2011 - June 30, 2012 divided by total common shares of 400 million. The company's dividend policy is to pay no less than 40 percent of net profits after corporate taxes and reserves.

For more information on PPS, 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.pps.co.th and www.mai.or.th

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