Thai bourse lists Indorama Ventures on February 5

Indorama Ventures PCL will list and commence trading on February 5. It is the first company to list on the Thai bourse this year, with a market capitalization at its initial public offering (IPO) price of over THB44.00 billion (approx. USD1.33 billion). The company will be in the Industrials Group, Petrochemical & Chemicals Sector, using “IVL” as its trading symbol, and comes from restructuring shareholdings of the business group.


“This listing of IVL supports SET’s strategy in 2010 to encourage large companies to list. SET aims at increasing its market capitalization by THB100 billion (approx. USD3.02 billion) from new listings this year,” revealed SET Chief Marketing Officer, Issuer & Listing Vichate Tantiwanich.

IVL is the holding company of domestic and international firms involved in integrated petrochemical products. These companies have 13 production facilities in five countries worldwide and manufacture and/or distribute polyester fiber and yarn, with highest production capacity in the country, and polyethylene terephthalate (“PET”), with the world’s second largest production capacity.

IVL has a total paid-up registered capital of THB4.33 billion (approx. USD130.74 million), with a par value of THB1.00 each, consisting of 3,352 million existing common shares and 583 million capital increase shares to exchange with shares held by Indorama Polymers PCL (IRP)’s retail investors at 1 IRP share for 1.4150 IVL share. At its IPO on January 25-27, 2010, IVL offered 400 million shares and 60 million Green shoe option shares, or a total of 460 million shares, to the general public at THB10.20 per share. The funds raised will be used for debt repayment and general operations, including as working capital. Bualuang Securities PCL was its financial advisor and underwriter.

The IPO price of THB10.20 per share came from book-building process among institutional investors. IVL’s dividend payment policy is to pay out no less than 30% of profit after taxes and legal reserves.

For more information about Indorama Ventures PCL, please see the company’s prospectus at the Securities and Exchange Commission (SEC) at www.sec.or.th and for general information at www.indoramaventures.com, and www.set.or.th.