SET to list auto parts maker Ingress Industrial (Thailand) on August 9

Stocks and Financial Services Press Releases Tuesday August 8, 2017 17:06
Bangkok--8 Aug--SET

The Stock Exchange of Thailand (SET) will list Ingress Industrial (Thailand) pcl, a regional leading auto parts maker and distributor in ASEAN with production bases in Thailand, Malaysia, Indonesia and India, on August 9, under the ticker symbol "INGRS". The company has a market capitalization at its initial public offering (IPO) of THB 1.92 billion (approx. USD 57.4 million).

SET Senior Executive Vice President Santi Kiranand said that INGRS would list on SET in the Industrials industry, Automotive sector. INGRS is a holding company that invests both directly and indirectly in eight subsidiaries and a joint-stock company with Ingress Autoventure Co., Ltd as the group's core company, engaged in Automotive Components Manufacturing (ACM) business. The group has manufacturing bases in four countries namely Thailand, Malaysia, Indonesia and India, distributing their products primarily to Original Equipment Manufacturers (OEMs) that supply to the world's leading automakers, such as Honda, Mitsubishi, General Motors, Isuzu Motors, Suzuki, Nissan, Toyota Motors, Perodua and Proton, etc.

INGRS has a paid-up registered capital of THB 1.45 billion, consisting of 1.19 billion existing common shares and 261.56 million newly issued shares, with a par value of THB 1.00 each. The company offered a total of 578.44 million shares, of which 261.56 million were newly issued shares and 316.88 million were vendor shares, to underwriters' beneficiaries, institutional investors and the company's related persons during July 31 - August 2, 2017, at THB 1.33 each, for a total of THB 347.88 million. Maybank Kim Eng Securities (Thailand) pcl is the financial advisor, and lead underwriter.

INGRS Chief Executive Officer Abdul Rahim Bin Haji Hitam said the company's strengths are technology and innovative production with a focus on high quality products. The fund raised would be used for investment in new projects to serve customer needs, debt repayment and also as additional working capital.

INGRS's three major shareholders after the IPO are Ingress Corporation Berhad (60.02 percent), Sakchai Yodvanich (1.38 percent), and Palakornkijwattana Group (1.12 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 10.59 times calculated by using the company's net profit amounting to THB 181.67 million in the past four quarters (May 1, 2016 – April 30,2017), divided by fully diluted shares, representing earnings per share of THB 0.1256. INGRS's dividend policy is to pay no less than 40 percent of the company's separate financial statement, 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; and for general information, please visit, as well as

Latest Press Release

FSS Launches a Risk-Based Authentication Solution to Bolster Security For Digital Transactions

FSS (Financial Software and Systems), a global payments technology company, has launched FSS Secure3D, its new-generation adaptive authentication solution based on the EMVCo 3DS 2.0 protocol. Globally, across regions, banks need to implement 3DS2.0...

PwC: Assets under management in Asia Pacific to rise to USD29.6 trillion by 2025, faster than any other region

The Asia Pacific (APAC) asset and wealth management industry is expected to be the centre for global Assets under management (AuM) growth in the coming years. According to the PwC report 'Asset and Wealth Management 2025: The Asia Awakening', APAC AuM...

OnMiners Mining Rigs Offering Market#s Fastest ROI

OnMiners S.A ( is quickly making a strong impact in the crypto mining industry by offering the market's fastest return on investment. The company recently hit the headlines by introducing three multi-algorithm mining rigs that...

The Mall Groups Department Stores partner with SCB to offer sizzling promotions with a chance to win RIMOWA luggage

The Mall, Emporium, EmQuartier and Paragon Department Stores joined forces with SCB to hold "Made in Summer" campaign from today to 17 April 2019 to delight shoppers with superb promotions: shop to receive coupons with up to 40% discount; a chance to win...

Bangkok Bank InnoHub Season 2 showcases innovative technologies from eight finalists at Demo Day 2019

Bangkok Bank InnoHub, the first global FinTech accelerator in Thailand, has showcased innovations and real-use cases from the program's eight finalists to the public, potential investors and others in Thailand's innovation ecosystem on Demo Day. The...

Related Topics