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Date/Time
13 Sep 2017 17:24:00
Headline
SET News :SET to list "Prima Marine" on September 14
Symbol
SET
Source
SET
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                                                                                         SET 
News 75/2017
                                                                       September
 13, 2017
SET to list "Prima Marine" on September 14
BANGKOK, September 13, 2017 - The Stock Exchange of Thailand (SET) will list 
Prima Marine pcl, an integrated services provider for the marine logistics and
storage of liquid petroleum and petrochemical products, on September 14, under
the ticker symbol "PRM". The company has a market capitalization at its initial
public offering (IPO) of THB 20 billion (approx. USD 588.3 million).
SET Senior Executive Vice President Santi Kiranand said that PRM would list on 
SET in the Services industry, Transportation & Logistics sector. PRM, an
integrated marine logistics and storage services provider with more than 30
years of experience, provides four categories of services, which are 1) oil and
petrochemical tanker business, 2) floating storage unit, 3) offshore support
vessel business, and 4) ship management business.
PRM has a paid-up registered capital of THB 2.50 billion, consisting of 2 
billion existing common shares and 500 million newly issued shares, with a par
value of THB 1.00 each. It offered 650 million shares, consisting of 500 million
newly issues shares and 150 million vendor shares, to general public during
September 6-8 at THB 8.00 each, resulting in a total of THB 4 billion newly
raised capital. Kasikorn Securities pcl and The Siam Commercial Bank pcl are its
 financial advisors and underwriters.

PRM Chief Executive Officer Chanwit Anakkul said that this listing would 
strengthen PRM's financial capability to serve the business expansion plan. The
company plans to build new vessels to replace existing ones, as well as expand
the vessel fleet to twice as much within three years. This will contribute to
constant growth of revenue, profit, and shareholder returns, while enhancing
business stability.

PRM's three major shareholders after the IPO are Nathalin Co., Ltd, Group, 74 
percent (Nathalin Co., Ltd, 54.2 percent and Austin Asset Limited, 19.8
percent), Bank of Singapore Limited (0.5 percent) and Chansak Fuangfu (0.4
percent). The IPO price was set by a book building process, equivalent to
price-to-earnings ratio (P/E ratio) of 20.46 times calculated by using the
company's net profit in the past four quarters divided by fully diluted shares,
representing earnings per share of THB 0.39. PRM's dividend policy is to pay no
less than 30 percent of net profit after reserves (from separate financial
statements) under the condition that such dividend payment is related to the
investment plan and other necessities and suitabilities in accordance with the
Board of Directors' approval.

For more information on PRM, 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.primamarine.co.th, as well as www.set.or.th.

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