Prapan Charoenprawatt, mai President, said that AIRA is a holding company in financial businesses with AIRA Securities pcl as its core company, while holding the firm’s stakes, both directly and indirectly, in its three subsidiaries, namely mai-listed AIRA Factoring pcl (AF), AIRA Advisory Co., Ltd., and AIRA International Advisory (Singapore) Pte. Ltd.
AIRA has a paid-up registered capital of THB 973.21 million, consisting of 3,116.73 million existing common shares and 776.11 million newly-issued shares, with a par value of THB 0.25. It sold 633.93 million new shares to the general public via initial public offerings (IPOs) and 124.67 million shares to the existing stakeholders during June 26-27 and 30. In addition, the company also offered warrants to directors and employees (ESOP warrant) of 17.51 million shares at the exercise price of THB 0.25 each. The total fund raised was THB 573.33 million. Maybank Kim Eng Securities (Thailand) pcl is the financial advisor and lead underwriter.
Nalinee Ngamsettamas, AIRA’s chief executive officer, said, “The listing on mai will definitely strengthen the company’s financial status and accommodate expansion plans in three key areas: customer base, business growth and investment. The expansion will cover not only domestic market but also overseas markets (AEC). We will focus on quality development and expansion; aiming for sustainable growth and generating secure returns to investors in the long run.”
AIRA's three major shareholders after shares offering and exercising ESOP warrants are J R K Holding Co., Ltd. wholly owned by Chulangkul family (37.19 percent), Nalinee Ngamsettamas's family (10.06 percent) and Komol Chungrungreangkit (8.10 percent). The IPO price was calculated using a price/book ratio (P/BV) of 2.36 times; March’s P/BV divided by common shares before IPOs. AIRA’s P/BV will become 1.87 times after the sales of its new shares and ESOP warrants while the mai one-year (June 7, 2013 – June 6, 2014) P/BV equals to 2.92 times. AIRA’s dividend policy is to pay no less than 50 percent of its individual net profits after taxes and reserves.
For more information on AIRA, 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.aira.co.th and www.mai.or.th.