SET Senior Vice President Paveena Sriphothong said that FVC is a distributor of purified water treatment system and related equipment, including design, assembly, installation, and maintenance. Its three main customers are commercial and residential group, industrial and original equipment manufacturer “OEM” group, and medical services group.
FVC has a paid-up registered capital of THB 100 million, with a par value of THB 0.50 each, consisting of 140.8 million existing common shares and 59.2 million newly-issued shares. The new shares were offered to the general public through an IPO on October 17-18 and 21, at THB 1.20 per share, for a total of THB 70.39 million. Country Group Securities pcl is the company's financial advisor and underwriter.
Dr. Wijit Techakasem, Managing Director of FVC, said that fundraising proceeds would be used for working capital, strengthen business and for expansion to cope with growing customer demand.
FVC's three major shareholders after the IPO are the Techakasem family (54.62 percent), Mr. Siriphong Vongvuttipornchai (7.15 percent), and Mr. Tanapat Tantiwattanawijit (4.07 percent). The IPO price had a price-earnings (P/E ratio) of 16.61 times, calculated using earnings over the last four quarters (from the third quarter of 2012 to the second quarter of 2013), divided by the number of fully-diluted shares, equivalent to earnings per share of THB 0.07.
The company's dividend policy is to pay no less than 50 percent of net profits after corporate taxes and reserves.
For more information on FVC, 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.filtervision.co.th and www.mai.or.th