mai welcomes Asia Biomass on February 27

Stocks and Financial Services Press Releases Monday February 26, 2018 17:24
Bangkok--26 Feb--SET

Market for Alternative Investment (mai) will list Asia Biomass pcl, a biomass fuel supplier and distributor, on February 27, under the ticker symbol "ABM". The company has a market capitalization at its initial public offering (IPO) of THB 540 million (approx. USD 16.9 million).

mai President Prapan Charoenprawatt said that ABM would list and start trading on mai in the Resources industry group. ABM supplies a variety of biomass fuels such as palm kernel shells, woodchips, wood shavings, sawdust, wood dust and biomass pallets, etc. to customers that use biomass fuel in the production process.

Customers of ABM group include industrial plants, power production plants, and those which use the fuel in other activities - biomass processing plants, wood product manufacturers, and biomass suppliers. The company has eight warehouses, four in Thailand and the other four in Malaysia and Indonesia. They are all strategically situated near raw material sources and target customer groups. Transportation services are carried out by its subsidiary's trucks to ensure efficient logistics.

ABM has a paid-up registered capital of THB 150 million, consisting of 225 million existing common shares and 75 million newly issued shares, with a par value of THB 0.50 each. The entire newly issued shares were allocated to general public via IPO at THB 1.80 each, for a total of THB 135 million, during February 19 - 21, 2018. Sage Capital Limited is its financial advisor and KGI Securities (Thailand) pcl is the lead underwriter.

ABM Managing Director Tiyada Kuansataporn said that the company supplies biomass fuels from various quality sources to serve customers' needs. Being an mai-listed company will help ABM gain more trust and acceptance from customers and trade counterparties. The fund raised will be used to expand palm kernel shell stock yards in Indonesia and Malaysia, set up a joint-venture biomass pellet factory in the southern Thailand and a woodchip factory and a biomass pellet factory in Surat Thani province in the southern part of Thailand, to serve the increasing demand. In addition, the fund will be used as working capital.

ABM's three major shareholders after the IPO are Kuansataporn Family (65.77 percent), Apisit Rujikeatkamjorn (5.00 percent) and Prasert Lohawiboonsup (2.50 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 29.51 times calculated by using the company's net profit in the past four quarters (Q4/2016 - Q3/2017) totaling THB 18.30 million divided by fully diluted shares, representing earnings per share of THB 0.06. ABM's dividend policy is to pay no less than 40 percent of net profit from the company's separate financial statements, after 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

Fitch Affirms Standard Chartered Bank (Thai) at #A-#; Outlook Stable

Fitch Ratings has affirmed Standard Chartered Bank (Thai) Public Company Limited's (SCBT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'A-' with a Stable Outlook. At the same time, the agency has affirmed SCBT's National...

Photo Release: KBank recognized as having the highest corporate brand value in the banking business category 2nd consecutive year

At Sukree Kaewcharoen Auditorium, the Stock Exchange of Thailand (SET), Ms. Kattiya Indaravijaya, KBank President, recently represented KBank to receive the "Thailand's Top Corporate Brand Values 2018" award in the banking business category from...

MicroBitcoin Open Source Community เซ็นสัญญากับสมาพันธ์แรงงานในเกาหลี เปิดโอกาสให้แรงงาน 1.5 ล้านคนได้ใช้เงินดิจิทัล

MicroBitcoin Open Source Community เซ็นสัญญากับสมาพันธ์แรงงาน Korea Association of Care Workers (KACW) เพื่อนำสกุลเงินดิจิทัล MicroBitcoin มาใช้ สัญญานี้ลงนามร่วมกันสามฝ่าย ได้แก่ MicroBitcoin Open Source Community, KACW และ Bluequotient...

MicroBitcoin Open Source Community Signs an Exclusive Contract with the Korea Association of Care Workers (KACW) to Expand its Usability to One and a Half Million Users

The MicroBitcoin Open Source Community has signed a contract with Korea Association of Care Workers (KACW) to adapt the MicroBitcoin blockchain network protocol. The trilateral contract was made between the MicroBitcoin Open Source Community, the Korea...

WICE establishes a joint-venture, EUROASIA TOTAL LOGISTICS, with its holding 40% of shares to provide cross-border transport services between China, Hong Kong

WICE establishes a joint-venture, "EUROASIA TOTAL LOGISTICS", with its holding 40% of shares to provide cross-border transport services between China, Hong Kong, and South East Asia with the expectation to achieve the first year's revenue at 200 million...

Related Topics