ACG Opens 15% Higher, Beating Its IPO to ฿1.66/Share!

Autocorp Holding Public Company Limited (ACG) opened its first trading day in mai at ฿1.66/share, increased ฿0.22/share or 15.28%. The highest price was at ฿1.66/share and the lowest was ฿1.63/share with a trading value of THB 72.42 million. The share price gained 15.28% to ฿1.66/share from the IPO at ฿1.44/share.

ACG has a registered paid-up capital of THB 300 million, consisting of 444 million existing common shares and 156 million newly issued shares, with a par value of THB 0.50 each. It offered 117 million newly issued shares to the general public; not exceeding 23.4 million shares to the company’s and the subsidiary’s benefactors, not exceeding 6 million shares to the company’s and the subsidiary’s related persons, and 9.6 million shares to the company’s and the subsidiary’s employees, during June 19-21, 2019, at THB 1.44 each, for a total of THB 224.64 million. Phillip Securities (Thailand) pcl is its financial advisor and lead underwriter.

ACG Chief Executive Officer Phanumast Rungkakulnuwat said with 27 years of experience as Honda dealer and service provider, ACG’s services are provided by skillful staff and we can timely delivery to clients by Honda quality standard.

In addition, the company’s competitive advantage of having many branches can manage the product supply chain to greatly satisfy customers’ needs. This listing would strengthen its capital base. The fund raised would be used for branch expansion, and as working capital.

ACG’s major shareholder after IPO is Rungkakulnuwat family (74%). ACG’s dividend policy is to pay no less than 40% of net profit after corporate income tax and legal reserves from the company’s separate financial statement.