ข่าวแจ้งสื่อมวลชน
INDORAMA CELEBRATES ITS FIRST TRADING DAY ON THE SET
Bangkok 5 February 2010 - Indorama Ventures Public Company Limited (Ticker: IVL) begins trading its shares on the Stock Exchange of Thailand today in one of the market's largest initial public offerings in the past two years and the first IPO in 2010.
Indorama's Group CEO Aloke Lohia said, "Indorama's IPO is a new milestone in the history of both Indorama and the Thai Stock Exchange due to the number of offered shares and the market capitalization. In addition, we have received strong interest from domestic institutions and foreign institutions, including some of the world's largest long-term funds. The bookbuild was over subscribed. This confirms investors' confidence in our business potential, especially considering that petrochemical products are significant raw materials for producing many daily consumer products, such as plastic bottles and food packaging and clothing. We hope this IPO will help to excite the Thai capital market this year and at the same time provide good returns to investors."
Under this historic IPO, Indorama Ventures offers approximately 1,000 million shares, including the share swap of Indorama Polymers' minorities. The IPO price is Bt10.20 per share.
"The proceeds from this offering will be used for the payment of short term debt, working capital needs and potential future expansion via acquisition, the expansion of current facilities or investment in new facilities," said Mr. Lohia. "I believe this should create demand in the after market, especially due to the fact that the IPO price reflects an attractive 2010 PE ratio of 6.8 times based on analysts' consensus." added Mr. Lohia.
Indorama is one of the global petrochemical leaders. Throughout the past four years, Indorama's business has grown an average of 70 per cent against the global petrochemical industry's average growth of seven per cent per annum. It has activities in all major markets - Asia, North America and Europe. Despite the global economic recession, its state-of-the-art facilities worldwide have been running at 100 per cent capacity.
"In Thailand, where we have been doing business for more than 20 years, the future is bright for us. Last year, Indorama created 1,000 new jobs for Thais as a result of our continuous business expansion. With strong performance and operational excellence, our Return on Equity in the first nine months of 2009 was approximately 32 per cent," added Mr. Lohia.
In carrying out the IPO, Bualuang Securities Public Company Limited was appointed the lead underwriter for this deal. The seven co-underwriters are Asia Plus Securities Public Company Limited, CIMB Securities (Thailand) Company Limited, DBS Vickers (Thailand) Company Limited, Kasikorn Securities Public Company Limited, KT ZMICO Securities Company Limited, SCB Securities Public Company Limited and Siam City Securities Company Limited. The international tranche was underwritten by BofA Merrill Lynch and Morgan Stanley.
Thanks to IVL's vertical integration strategy and strong management team, the Company has seen constant expansion and growth in the past four years. Its Sales increased from Bt18.8 billion in 2006 to Bt32.3 billion in 2007 and Bt53.3 billion in 2008. For the first nine months ending 30 September 2009, IVL reported Sales of Bt59.1 billion.
Indorama Ventures is Thailand's largest integrated producer of PTA, PET resin, polyester fibers and yarns and also the second largest PET producer in the world. Its businesses focus on four products - PTA, PET, Polyester fiber and yarn, and wool. At present, IVL operates two PET resin manufacturing plants in Thailand, three in Europe and two in North America with combined installed capacity of 1.49 million tons per year; two PTA production plants in Thailand and one in Europe with total installed capacity of 1.59 million tons per year; two polyester fibers and yarn production plants in Thailand with a combined installed capacity of 244,800 tons per year; and one worsted wool yarn plant in Thailand with an installed capacity of 5,900 tons per year.
Editor's note: The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America. The materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States of America or to conduct a public offering of securities in the United States of America.
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration exemption from registration or qualification under the securities laws of any such jurisdiction.
Indorama's Group CEO Aloke Lohia said, "Indorama's IPO is a new milestone in the history of both Indorama and the Thai Stock Exchange due to the number of offered shares and the market capitalization. In addition, we have received strong interest from domestic institutions and foreign institutions, including some of the world's largest long-term funds. The bookbuild was over subscribed. This confirms investors' confidence in our business potential, especially considering that petrochemical products are significant raw materials for producing many daily consumer products, such as plastic bottles and food packaging and clothing. We hope this IPO will help to excite the Thai capital market this year and at the same time provide good returns to investors."
Under this historic IPO, Indorama Ventures offers approximately 1,000 million shares, including the share swap of Indorama Polymers' minorities. The IPO price is Bt10.20 per share.
"The proceeds from this offering will be used for the payment of short term debt, working capital needs and potential future expansion via acquisition, the expansion of current facilities or investment in new facilities," said Mr. Lohia. "I believe this should create demand in the after market, especially due to the fact that the IPO price reflects an attractive 2010 PE ratio of 6.8 times based on analysts' consensus." added Mr. Lohia.
Indorama is one of the global petrochemical leaders. Throughout the past four years, Indorama's business has grown an average of 70 per cent against the global petrochemical industry's average growth of seven per cent per annum. It has activities in all major markets - Asia, North America and Europe. Despite the global economic recession, its state-of-the-art facilities worldwide have been running at 100 per cent capacity.
"In Thailand, where we have been doing business for more than 20 years, the future is bright for us. Last year, Indorama created 1,000 new jobs for Thais as a result of our continuous business expansion. With strong performance and operational excellence, our Return on Equity in the first nine months of 2009 was approximately 32 per cent," added Mr. Lohia.
In carrying out the IPO, Bualuang Securities Public Company Limited was appointed the lead underwriter for this deal. The seven co-underwriters are Asia Plus Securities Public Company Limited, CIMB Securities (Thailand) Company Limited, DBS Vickers (Thailand) Company Limited, Kasikorn Securities Public Company Limited, KT ZMICO Securities Company Limited, SCB Securities Public Company Limited and Siam City Securities Company Limited. The international tranche was underwritten by BofA Merrill Lynch and Morgan Stanley.
Thanks to IVL's vertical integration strategy and strong management team, the Company has seen constant expansion and growth in the past four years. Its Sales increased from Bt18.8 billion in 2006 to Bt32.3 billion in 2007 and Bt53.3 billion in 2008. For the first nine months ending 30 September 2009, IVL reported Sales of Bt59.1 billion.
Indorama Ventures is Thailand's largest integrated producer of PTA, PET resin, polyester fibers and yarns and also the second largest PET producer in the world. Its businesses focus on four products - PTA, PET, Polyester fiber and yarn, and wool. At present, IVL operates two PET resin manufacturing plants in Thailand, three in Europe and two in North America with combined installed capacity of 1.49 million tons per year; two PTA production plants in Thailand and one in Europe with total installed capacity of 1.59 million tons per year; two polyester fibers and yarn production plants in Thailand with a combined installed capacity of 244,800 tons per year; and one worsted wool yarn plant in Thailand with an installed capacity of 5,900 tons per year.
Editor's note: The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America. The materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States of America or to conduct a public offering of securities in the United States of America.
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration exemption from registration or qualification under the securities laws of any such jurisdiction.