Thai Tap Water Supply Plc said its common stocks will be listing on the Stock Exchange of Thailand on May 22.

Of one billion new shares to be floated in an initial public offering, 650 million shares will go to institution investors with 300 million shares allocated to retail investors and 50 million shares to its supporters.

Subscription for the bidding is set on May 12-13. TTW is expecting to raise between 2.8 to 3.15 billion baht from the IPO price range of 4.5 baht per share.

Rapee Sucharitakul, chairman of TTW financial advisor Kasikorn Securities, said the offering would be made domestically, because local demand is overwhelming.

“Foreign investors can always afford the shares through a secondary market,” he said. “By eliminating foreign allocation, we have effectively reduced the offering costs.”

TTW has the capacity of fresh water of 420,000 cubic meters per day. It reported 2007 net profit of 920.05 million baht on turnover of 2.62 billion baht, up from 674.4 million and 1.72 billion in 2006 respectively.

The company is planning a new water plant costs 13-14 billion baht in Samut Songkhram province with adding capacity of 100,000 cubic meters per day.

1. 

   I went there. They charged members for 1,600 baht and non members for 6,000 baht. Quite fair treat.

   Posted by Narong | May 28, 2008, 6:38 pm