SET to list WHA Utilities and Power on April 10

Stocks and Financial Services Press Releases Monday April 10, 2017 11:10
Bangkok--10 Apr--SET

The Stock Exchange of Thailand (SET) will list WHA Utilities and Power pcl, a fully integrated utilities and power generation services provider, on April 10, under the ticker symbol "WHAUP". The company has a market capitalization at its initial public offering (IPO) of THB 20 billion (approx. USD 573.7 billion).

SET Senior Executive Vice President Santi Kiranand said that WHAUP would list on SET in the Resources industry, Energy & Utilities sector. WHAUP provides fully integrated utilities services for industries in Hemaraj Land and Development pcl (Hemaraj group), producing and distributing industrial water, as well as providing wastewater treatment services, under a 50-year exclusive right. The company also invests in power-generating business in Thailand and overseas, with total commercially operating power generating capacity, in proportion to its investment, of 350 megawatts (MW) and plans to expand to 540 MW by early 2019. WHAUP was a result of the restructuring plan of WHA group and Hemaraj group to spin off their utility and energy businesses.

WHAUP has a paid-up registered capital of THB 3.83 billion, consisting of 640 million existing common shares and 125 million newly issued shares, with a par value of THB 5.00 each. It offered altogether 229.50 million shares (vendor and newly issued shares) at THB 26.25each, for a total of THB 3.28 billion, consisting of 57.29 million shares to eligible WHA existing shareholders during March 22-24, 2017; 57.46 million shares to underwriters' and company's benefactors during March 22-28; and 114.75 million shares to domestic and foreign institutional investors during March 30-31 and April 3.The Siam Commercial Bank pcl is the financial advisor, while SCB Securities Co., Ltd. is its underwriter.

WHAUP Chief Executive Officer Wisate Chungwatana, said that this listing and fund raised would strengthen WHAUP's business capabilities. The fund raised would be used for business expansion including utility business, product diversification to meet customers' needs, power plant project under construction, as well as alternative energy business in developing process, such as solar roof on warehouses, including factories for rent under the management of WHA group and the waste-to-power energy project. This would reinforce the firm's leading position in the fully integrated utility and energy business.

WHAUP's three major shareholders after IPO are Hemaraj Land and Development pcl (70.00percent), Somyos Anantaprayoon and Jareeporn Jarukornsakul Group (3.54 percent) and CLSA Limited (3.40 percent). The IPO price was set by a book building process, equivalent toprice-to-earnings ratio (P/E ratio) of 20.75 times calculated by using the company's net profit (referencing consolidated financial statement by management) in the past four quarters (Q1/2016-Q4/2016), divided by fully diluted shares, representing earnings per share of THB 1.265. WHAUP's dividend policy is to pay no less than 40 percent of net profit, from the company's consolidated financial statement, after taxes and reserves.

For more information on WHAUP, please see the company's prospectus at the Securities and Exchange Commission's website at ; and for general information, please visit, as well as

Latest Press Release

Wecash Named One of the Top 50 Chinese Global Brands by Facebook and KPMG

Wecash, a fintech company that specializes in financial products powered by smart phones, was named one of the 2018 Top 50 Chinese Global Brands by Facebook and KPMG. Wecash was featured in the list alongside other industry leaders such as Tencent, Ant...

Photo Release: WHA Group Meets Investors, Q2/2018 Opportunity Day

WHA Group, led by Ms. Jareeporn Jarukornsakul (right), Chairman and Group CEO, together with Mr. Arttavit Chalermsaphayakorn (left), Chief Financial Officer of WHA Corporation Pcl., had recently presented the Company's Q2/2018 information at "Opportunity...

USD120,000 at stake in CIMBs 3D Conquest to unearth ASEANs top #digital talents Competition sets path for nurturing crucial skills in data science, FinTech and coding among tertiary students

CIMB Group Holdings Berhad ("the Group" or "CIMB") has launched the CIMB 3D Conquest, a competition that aims to identify and attract ASEAN's top creative, young digital talent with an agile and entrepreneurial mindset. Open to all tertiary students, the...

Allianz to become Worldwide Olympic Insurance Partner

The International Olympic Committee (IOC) and Allianz today announced that the insurer will join the "Worldwide Olympic Partner" (TOP) Programme in 2021. Through this sponsorship agreement, Allianz will work with the IOC to provide innovative and...

BYFX Global Co., Limited Announces Business Launch

BYFX Global Co., Limited (BYFX Global) today announced the launch of its retail and institutional business -- offering clients around the globe top-tier liquidity and online OTC trading for Spot FX and Spot Bullion[1]. Striving towards financial...

Related Topics