SET News :mai to list logistic operator AMA Marine on December 22

Market for Alternative Investment (mai) will list

AMA Marine pcl, a liquid logistics operator providing sea freight services in

Southeast Asia, as well as land transportation services domestically, on

December 22 under the ticker symbol "AMA." The company has a market

capitalization at its initial public offering (IPO) of THB 4.31 billion

(approximately USD 123 million).

mai President Prapan Charoenprawatt said that AMA would list and start trading

on mai in the Service industry group. AMA, a logistics company focused on liquid

transport by sea and by land. The sea freight services carrying palm oil and

other vegetable oils, operated mainly in Southeast Asia and East Asia, while the

land transport services carrying petrol and bio-diesel B100 operated

domestically by its subsidiary.

AMA has a paid-up registered capital of THB 215.8 million, consisting of THB

323.6 million existing common shares and 108 million newly issued shares, with a

par value of THB 0.50 each. During December 8-9 and 13-14, 2016 it offered

newly issued shares to the general public via IPO at THB 9.99 each, for a total

of THB 1.08 billion. Sage Capital Limited is the financial advisor and KGI

Securities pcl is the underwriter.

AMA managing director Pisan Ratchakitprakarn said the business has been in

operation for over 20 years providing water freight services to the large palm

oil producer and manufacturer in Malaysia and Indonesia. The company currently

operates eight oil and chemical tankers with a total capacity of 46,661 metric

tons and 95 tanker trucks with a total capacity of 4.28 million liters. AMA

would be the first listed company that provides sea freight services solely for

liquid goods. This listing would strengthen AMA's financial capabilities and the

company's potential to further provide services internationally. The fund

raised would be used to develop and expand its freight operation both sea

freight services and land transport services domestically and internationally,

while investing in areas that support its core logistics business.

AMA's three major shareholders after the IPO are Phiphat Ratchakitprakarn Group

(39.49 percent), PTG Logistics Co., Ltd (24.00 percent) and Pisan

Ratchakitprakarn Group (6.02 percent). The IPO price was equivalent to

price-to-earnings ratio (P/E ratio) of 31.29 times calculated by using the

company's net profit in the past 12 months (October 1, 2015- September 30, 2016)

of THB 137.80 million, divided by fully diluted shares, representing earnings

per share of THB 0.32. AMA's dividend policy is to pay no less than 25 percent

of net profits after taxes and reserves.

For more information on AMA, 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.amamarine.co.th, as well as

www.set.or.th.

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Source: The Stock Exchange of Thailand