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Somboon auto parts unit to float shares on Thai stock market.
Byline: Aranee Jaiimsin
Jan. 10--Somboon Advance Technology Plc (SAT), a first-tier original equipment manufacturer (OEM) and a subsidiary of the country's leading auto parts maker Somboon Group, plans to float shares on the Stock Exchange of Thailand (SET) by the end of March to raise 660 million baht for business expansion.
SAT is expanding its operations in order to take advantage of the expected 20 percent growth in automobile production which, according to the Thailand Automotive Institute, should reach 1.1 million units in 2005 and 1.8 million units in 2010, said Worapote Chutchaikulsiri, the company's vice-president in charge of finance.
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