Auto Corp Holding Submit Filing for 156M. IPO for Business Expansion
The holding company of Handa Maliwan will kick off its IPO soon.
Auto Corp Holding Public Company Limited (ACG), who holds Honda Maliwan’s shares, has submitted a filing to Securities and Exchange Commission (SEC) for its 156 million IPO(26% of common stock and paid-up capital) at ฿0.50/share, aiming to expand its distributions and services business. While the shares will be traded in mai.
The major shareholders of ACG at September 14, 2018 is Rungkakulnuwat Group, who holds 100% of ACG’s shares. The portion will be reduced to 74% after the IPO.
ACG is a holding company to invest in its subsidiary company, which is Honda Maliwan Limited (core company). Honda Maliwan is a service center and a distributor of Honda vehicles with 7 showrooms & service centers and 1 showroom in Surin, Buriram, Khon Kaen, and Phuket Province. The service also includes leasing and insurance.
ACG targets 7 establishments of its showrooms & service centers within 5 years in major cities and other local areas.
In the last 3 years (2015-2017), the company’s revenue has been increasing from 1,328 million baht, 1,501 million baht and 1,836 million baht, respectively, while having 3.97 million baht, 8.74 million baht, and 21.54 million baht of net profits, respectively.
ACG earns 1,043 million baht in 2H18, increasing by 7.64% YOY with 6.56 million net profits. As for the assets, ACG has 1,167 million baht, 803 million baht of debt, and 363 million baht on shareholders, as of June 30, 2018.
Moreover, ACG plans to issue at least 40% of dividend from its net profit.