• 
• 

Published on October 23, 2007

The company will sell 50 million shares with a par value of Bt0.50 in an initial public offering, financial adviser Asset Pro Management chief executive Somphob Sakpunpanom said yesterday. Capital Nomura Securities is the lead underwriter.

Registered capital will increase to Bt75 million, from Bt50 million before.

Somphob said Builder Smart would file its listing documents with the Securities and Exchange Commission next Wednesday.

The company will list on the Market for Alternative Investment.

Proceeds from the share sale will be spent on new branches in Vietnam and India and working capital. The company will hold roadshows in Bangkok, Chiang Mai, Khon Kaen, Hat Yai, Nakhon Ratchasima, Phitsanulok and Chon Buri.

Following the offering, major shareholders Suresh Subramaniam and Sunchai Nuengsit will see their combined holdings diluted to 33 per cent from 40 per cent while One Asset Management's stake will slip to 13 per cent from 20 per cent.

Somphob said Builder Smart would enjoy a reduction in corporate income tax after listing. This saving will allow it to pay a dividend.

Sales and branch operations director Sunchai said 2007 revenue would increase 20 per cent year on year from Bt270 million.

Gross profit margin will improve as it concentrates on selling its own products. Sales of these account for 40 per cent of turnover and this could rise to 50 per cent next year.

Siriporn Chanjindamanee, The Nation