SET Senior Executive Vice President Manpong Senanarong said that CHASE will be listed and start trading on the SET in the Financials industry group, Finance & Securities sector.
CHASE, a company under the umbrella of RS Group pcl (RS), is an AMC (especially unsecured loans), and provides end-to-end debt collection and legal action services. With the 25 years of experiences, close ties with leading financial institutions, professional personnel and nationwide branches, the company has delivered good performances amid increasing non-performing loans due to the impacts of COVID-19, the global economic slowdown and the end of commercial banks' assistance for COVID-affected debtors in 2022. As the Thai economy is recovering in 2023, loan repayment will improve and this presents the growth opportunity for the company.
CHASE has a paid-up capital of THB 992.72 million with a par value of 0.50. It offered 562 million shares consisting of 417 million newly issued shares and 145 million existing common shares sold by RS Mall Co., Ltd. (a subsidiary of RS), to the public. Of the total IPO shares, 538.30 million shares were allotted to persons and/or institutional investors at the underwriters' discretion; and 23.70 million shares to the associates of the company, employees of the company and subsidiaries, and its patrons during February 13-15, 2023, at THB 2.90 each with the offering size of THB 1.21 billion. KASIKORN Securities pcl is the financial advisor and lead underwriter.
CHASE Chief Executive Officer Pracha Chaisuwan said the listing on SET will strengthen the capital of the company and enhance its growth potential. The proceeds arising from the fundraising will be used to expand NPL portfolio under its management and boost efficiency
in increasing loans for cases of non-performing loans (NPLs) and boosting efficiency of the growing debt collection business for the strong and sustainable growth of CHASE as a leader in the end-to-end debt management.
CHASE's three major shareholders after the IPO are the Chaisuwan Family (51.43 percent), RS Public Company Limited Group (21.35 percent) and BNP MELLON NOMINEES LIMITED (3.53 percent). The IPO price was based on book building and was equivalent to the price-to-book value ratio (P/BV ratio) of 2.82 times. The book value per share, which represented the book value as of September 30, 2022, divided by fully diluted shares stood at THB 1.03. The company's dividend policy is to pay at least 40 percent of net profit from its special financial statement after corporate income tax and legal reserves.
For more information on CHASE, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.chase.co.th and www.set.or.th.
Source: SET Corporate Communications