March 5, 2008
Bangkok - Thai Tap Water Supply Plc (TTW) confirmed its listing in the first quarter of 2008, planning to mobilize funds to repay its three billion baht of debt.
Mr. Sompodhi Sripoom, managing director of TTW, revealed the company would be able to list on the Stock Exchange of Thailand in the first quarter of this year.
Road shows will only be held in the Asian region to introduce TTW to foreign investors.
TTW will launch its initial public offering (IPO) of one billion shares consisting of 300 million existing shares and 700 million newly-issued shares. Funds will be mobilized to repay its three-billion-baht short-term debt.
After the IPO, TTW will have 3,990-million-baht registered capital and 3,990-million ordinary shares with par value of one baht.
Road shows will be held in countries like Singapore and Hong Kong.
The company plans to increase the tap water capacity in Nakhon Prathom province from 320,000 to 420,000 cubic metres per day.
Capacity enhancement will cost about 1.3-1.4 billion baht and is to serve the Provincial Waterworks Authority (PWA)’s rising raw water demand.
It is expected the price of tap water will be adjusted this year, according to TTW’s managing director Mr. Sompodhi.
The company’s annual revenue growth was 40-50% during the past three years (2004-2006)
TTW holds a 30-year water supply contract with PWA and has started its production with full capacity of 320,000 cubic metres per day to supply treated water in the province of Nakhon Pathom and Samut Sakhon since 2004.
Its shareholders consist of CH. Karnchang (47.7%), Mitsui Water Holding (Thailand) Co (35.0%), Bangkok Expressway Plc (12.5%) Bangkok Bank (2.5%) and TMB BANK (2.3%).
