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Thai Consumer-Finance Firm Eyes Blue-Chip Status, Defends Price.
Byline: Cholada Ingsrisawang
Nov. 8--The consumer finance firm Aeon is confident that it will become a blue-chip stock once it enters the Stock Exchange of Thailand, and insists that its initial public offering price of 48 to 52 baht per share is fair.
The company will hold its initial public offering from Nov 16-20, with 9.8 million shares offered to public investors and another 200,000 to its employees.
Aeon plans to list 50 million shares on the SET at a par value of five baht each, with trading expected to begin on Dec 4.
Somphop Keerasuntonpong, a vice-president at Capital Nomura Securities, which is advising Aeon on the listing, said there was no plan to change the IPO price or delay trade.
He said that given its relatively low free-float, the company would monitor trading liquidity after its formal listing. If liquidity was low, Aeon could reduce its par value further to increase the number of shares available in the market.
"Aeon has a very high return on equity at around 50 percent, so we're confident that investor interest in the firm will be high based on fundamentals," Mr Somphop said.
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- DTAC teams up with Aeon to offer prepaid calling loans.
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