Bangkok--Apr 7--Weber Shandwick (Thailand)
CS LOXINFO IPO shares (CSL) will commence trading on April 8. Analysts predicted that CSL should close above the IPO price based on the outlook for the company's business growth and the strength of its management team. The continually improving market means investors will focus on the growth outlook of companies like CSL.
Dr. Tachpong Hotrabhavananda, Managing Director of CS LOXINFO Plc., said "CS LOXINFO is looking forward to the first day of its shares trading on the Stock Exchange of Thailand (SET) on Thursday April 8. Recently overall market sentiment has improved which will benefit IPO shares that start trading this week. Analysts from a number of securities and financial institutions commented that CSL are an interesting an attractive investment."
"CS LOXINFO's management team would like to assure all investors of our determination to maintain good governance policies which emphasizes honesty and transparency. In 2004, CS LOXINFO plans a dividend of no less than 40% of its after-tax net profit," Dr. Tachpong concluded.
Mr. Surat Taesritrasert, Associate Director DBS Vickers Securities (Thailand) Co. Ltd., financial advisor and lead-underwriter to CS LOXINFO, said "CS LOXINFO provides internet communication services and sale of advertising in the Yellow Pages directory. The synergies between the Company's Internet business and its Yellow Pages operation, especially the integration of off-line and on-line content and services, are also expected to bring benefits in the future, which is deemed to be of interest to investors in mixed communications businesses. CS LOXINFO received subscription of 16 fold for its IPO shares from local and foreign financial institutions. All 125 million shares were fully subscribed within the first day of offering. Thus, it is reasonable to believe that CSL could close above the offer price on it first trade day, April 8."
"CS LOXINFO is an Internet provider (ISP) with a nationwide network and has the largest market share, 40%. Being a part subsidiary of the Shin Corporation group will benefit the company's Internet business in terms of both network and content development. The synergies of the acquisition of the operations of the Yellow Pages operations are also expected to bring benefits in the future.
Note to editor:
CS LOXINFO Plc.has a total of 625 million shares, 125 million shares were offered through the Initial Public Offering at one baht par value per share. On April 8 2004, the company will trade in the communications sector of the SET under the ticker symbol CSL.
CS LOXINFO PUBLIC COMPANY LIMITED, previously known as CS Communications Company Limited, was established in 1994 as a joint venture between the Communications Authority of Thailand, and Shin Satellite Public Company Limited. It is a provider of satellite communication solutions, including satellite uplink/downlink facilities, and Internet-based services under the name "CS Internet". In March 2003, the Company merged with Loxley Information Service Co., Ltd. (LoxInfo), and changed its name to CS LOXINFO. In early March 2004, CS LOXINFO acquired 63.25% shares of Teleinfo Media Company Limited, producer of Thailand's Yellow Pages.
For more information, please contact
Ms. Tippawan Wortong / Ms. Jensiree Esaparn, Weber Shandwick (Thailand)
Tel: 02 257-0300 ext. 334, 333, E-mail:
[email protected] End.
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