King Wan Corporation Limited on KTIS IPO Listing

It's about time that they finally announce this news.

"On 25 April 2012, King Wan Corporation Limited (the “Company”, and with its subsidiaries, the “Group”) and its wholly owned subsidiary, King Wan Industries Pte. Ltd (“KWI”) entered into Sales and Purchase (“SPA”) agreements with KTIS to sell their entire shareholding in Environment Pulp and Paper Company Limited (EPPCO) and Ekarat Pattana Company Limited (EPC), for a total consideration of THB1,224,400,000, 5% of the consideration has been paid in cash and the remaining 95% shall be by way of shares in KTIS when it is listed on the SET. 

The Board of Directors of the Company is pleased to announce that the Office of Securities and Exchange Commission in Thailand ("SEC") had officially approved KTIS’ Initial Public Offer (“IPO”) filing on 18 April 2014 and KTIS’ shares were opened for subscription between 21 to 23 April 2014. KTIS’ shares will commence trading on the Stock Exchange of Thailand (SET) on 28 April 2014.  " - Quoted

King Wan Corporation Limited will be allocated with 87,267,000 shares and King Wan Industries 29,051,000 shares. A total of 116,318,000 allocated shares at 10baht/share translate to approx S$45.36m (Using 1 THB = 0.0390SGD). This will represent about 3.01% of KTIS issued shares. With that insight, this will bring very a exciting future ahead especially from FY2015 Q2 onwards. 

I have emailed their IR regarding on their decision whether to keep part of KTIS shares or to liquidate all of it. I hope they can get back to me.

King Wan's Current Closing Price on 25th April 2014 : 0.335

You can also refer to my previous entry on King Wan
King Wan Corporation Limited - More Upside Potential?

Sources:
http://infopub.sgx.com/FileOpen/KingWanCompletionofIssuance25Apr2014.ashx?App=Announcement&FileID=293446

http://infopub.sgx.com/FileOpen/KingWanPressRelease25Apr2014.ashx?App=Announcement&FileID=293453

Cheers!

Little Boy