Mitihoon – BANGKOK, October 7, 2024 – Market for Alternative Investment (mai) will list Thai Auto Tools and Die pcl, a leader in designing and manufacturing tools and press metal parts for the automotive industry, on October 8, 2024, under the ticker symbol “TATG”. The company’s market capitalization at its initial public offering (IPO) is THB 500 million (approx. USD 15.50 million).
mai President Prapan Charoenprawatt said TATG will start trading on mai in the Industrials industry group.
TATG and its subsidiaries operate two main business lines: (1) Design and manufacture of tools for the automotive industry (Tooling), including Stamping Dies, Checking Fixtures, and Assembly Jigs; and (2) Production of Automotive Press Parts. The company employs advanced technology and machinery, ranging from 200 to 2,000 tons, for efficient and diverse production, including mass production and high-precision manufacturing. TATG has also adopted an Electro Deposition Paint (EDP) system to enhance part quality and corrosion resistance. Furthermore, the company is preparing for the electric vehicle (EV) industry expansion by investing in research and development of metal dies suitable for current and future EV production.
TATG’s paid-up capital after the IPO amounts to THB 400 million, with a par value of 1 baht per share. The company offered 100 million newly issued ordinary shares through the IPO to individuals at underwriters’ discretion; and the company’s and its subsidiaries’ patrons, directors, executives, and employees during September 30 – October 2, 2024. The IPO was priced at THB 1.25, raising THB 125 million in total capital. The IPO price equals the price-to-earnings (P/E) ratio of 5.2 times. The earnings per share amounts to THB 0.24, which was calculated from the company’s net profit over the past 12 months (from July 1, 2023, to June 30, 2024) divided by fully diluted shares. Asia Plus Advisory Co., Ltd. served as the financial advisor, and Asia Plus Securities Co., Ltd. was the lead underwriter.
TATG Chief Executive Officer Payung Sakdasawit said that the company aims to become a leading manufacturer of high-quality metal dies, fixtures, and automotive parts in Asia. With a management team and staff boasting over 30 years of experience in the automotive industry, the company is well-equipped with technology and modern production facilities meeting international standards. With its one-stop service, TATG has earned trust and recognition from leading automotive brands and major auto parts manufacturers. To enhance production efficiency and capitalize on the automotive industry’s technological shift towards EV parts, the company is upgrading its production lines to automated systems to prepare for future competition. The funds raised from the IPO will be allocated to invest in additional machinery to elevate the organization to international standards, repay financial institution loans to lower financial costs, and serve as working capital.
TATG’s major shareholders after the IPO are the Sakdasawit family (33.5 percent), the Haruthai family (25.2 percent), and the Laosinchai family (9.3 percent). The company’s dividend policy is to pay shareholders not less than 40 percent of net profit from separate financial statements after taxes and legal reserves.
For more information on TATG, please see the company’s prospectus at the Securities and Exchange Commission’s website at www.sec.or.th, and general information on www.thaiautotools.co.th and www.set.or.th.
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