Thai Optical Group, one of the four biggest independent manufacturers and distributors of optical lenses in the world is preparing to seek listing on the Stock Exchange of Thailand (SET) to raise funds. The initial public offering price of the share is already determined at 2.80 baht apiece. The subscription period of the 68 million new shares is also set on May 8 and 9 of this year with Ayudhya Securities PLC appointed as lead underwriter, which will handle the share flotation along with 9 other brokers. The company’s stocks are expected to be traded on the stock market around May 16.

Dr. Sawang Pracharktam, Managing Director of Thai Optical Group Public Company Limited or TOG, disclosed that his company had appointed Ayudhya Securities PLC as lead underwriter for the subscription of the designated 68 million shares, which are equivalent to 17% of the company’s registered capital after the IPO is completed. “The shares are set to be sold at 2.80 baht apiece, which is perceived to be very attractive by investor’s standard. The company has also taken into consideration various elements such as market fluctuation and current events before proceeding with the IPO and believes in the stability of the stock market. An obvious strength Thai Optical enjoys is its export production, which takes up 93% of the total output. The export is conducted in 2 different formats namely original equipment manufacturing (OEM) and original products under the brand name of ‘Excelite’. The remaining 7% of the production output facilitates domestic consumption, whose sales contribution is amounted to 30% of Thailand’s total market value for optical lenses,” he said.

"At present, the company’s paid-up registered capital (before IPO) is 332 million baht and will increase to 400 million baht after IPO. The proceeds from the share flotation will be used as payment to land acquisition; investment for production expansion of high impact resistance optical lenses in the 4 th production line including machinery and additional equipment; and working capital for the company and its subsidiaries and paying back short-term loans, of which over 100 million baht has already been spent on various investment projects," he said.

 M.R.Sasiprin Chandratat, Chief Executive Officer of Ayudhya Securities PLC. , as appointed lead underwriter of Thai Optical Group (TOG) overseeing the IPO, said the subscription period had been scheduled on May 8 and 9 this year. The company’s stocks are expected to be traded on the Stock Exchange of Thailand (SET) around May 16. Ayudhya Securities P LC will handle the subscription of Thai Optical Group shares along with 9 other securities houses namely:

1. Kim Eng ( Thailand) Securities PLC
2. Syrus Securities PLC
3. Trinity Securities Co., Ltd.
4. Siam City Securities Co., Ltd.
5. Bua Luang Securities PLC
6. BT Securities Co., Ltd.
7. Prudent Siam Securities Co., Ltd.
8. Mersion Partner Securities Co., Ltd.
9. Intelvision Securities PLC

"The business of TOG has excellent and consistent growth rate with solid foundation in export. As lead underwriter, we are confident in the stability of TOG and its lucrative return in the future. These make TOG appropriate stocks to pick for lucrative investment – it is really the one to watch," he concluded.

About TOG:

Thai Optical Group Public Company Limited was established on March 8, 1991 by Pracharktam Family to manufacture plastic optical lenses, which include the 4 following main categories – 1. Plastic Lens (CR39® , Photochromic Lens, Hi-Index Lens, High-Impact Resistant Lens); 2. Mineral Lens; 3. Prescription Lens or Rx Lens; and 4. other types of lens related products such as Glass Mould. The company has a policy to develop new products in order to keep up with the changing global market and generate profitability.