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Published on October 31, 2007

The shares have been priced at Bt3 and are expected to start trading on November 14.

CEO Suwat Luengviriya yesterday said the offering would be held from today to Friday.

The company offers non-hazardous waste-management services. As well as landfills, it treats industrial waste with chemicals.

"We believe our stock will be attractive to investors because of the company's strong fundamentals. Our market share is around 60 per cent and we are number one," Suwat said.

Over the past three years, the company's average annual growth has been between 25 per cent and 30 per cent.

Underwriters KTB Securities executive chairman Chanchai Kultavarakorn said current stock-market sentiment was positive and the company should benefit.

The Bt3 offering price was calculated on a price-to-earnings ratio of nine times - a discount of 60 per cent to the industry.

It is a 25-per-cent discount on the overall market price-to-earnings factor.

The sale will see Better World Green increase registered capital to Bt320 million. Its major shareholder, the Luengviriya family, will see its stake diluted to 28.40 per cent from a current 37.86 per cent.

The proceeds will be used to repay debt, expand the business and for working capital.

The company is expected to sign a Bt1.5-billion 20-year contract with Bang Pu Industrial Estate in Samut Prakan in December.

Siriporn Chanjindamanee

 The Nation