The company - a printed circuit board assembly and electronic products manufacturer - and its financial adviser Seamico Securities Plc are setting the subscription dates and IPO price, accounting and finance director Amorn Ungsakulpreecha said yesterday.

The stock will debut on the local bourse next month.

The company's paid-up capital will be raised from Bt386.1 million to Bt480 million from the share allocation.

"It's possible the company will earmark IPO shares to foreign investors, as overseas funds have expressed interest in subscribing.

"The firm's board of directors will make the decision later," Amorn said.

Four of the five projects are for TOT Plc and the other is for the Metropolitan Electricity Authority.

This year the company will realise 40 per cent of its total revenue from the MEA project and all of the revenue from the TOT projects.

"Our sales this year will rise about 20 per cent from Bt1.6 billion last year. Most of the revenue will be booked in the third and fourth quarters. Also, sales of electronic products will rebound," Amorn said.

Vorachart Tuaycharoen, vice president for investment banking at Seamico Securities, expects the Securities and Exchange Commission to approve Forth Corp's IPO filing early next week.

"I believe the stock will receive a good response from investors because of the company's prospects.

"The firm is the sole company assigned by TOT to change the system for public phones from analogue to digital and this is its strong point," he said.

Siriporn Chanjindamanee

The Nation