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SET lists natural rubber thread manufacturer “WFX”
The Stock Exchange of Thailand (SET) list World Flex pcl, a manufacturer of natural rubber threads under the ticker symbol “WFX”. The company has a market capitalization at its initial public offering (IPO) at THB 3.34 billion (approx. USD 100 million).
SET Senior Executive Vice President Manpong Senanarong said that WFX would list
and start trading on SET in Consumer Products industry group, Fashion sector.
WFX produces two types of rubber threads: rubber threads coated with talcum, and
rubber threads coated with silicone. WFX distributes products to local and
overseas customers under seven proprietary brands namely WORLD FLEX, THAITEX,
QUALIFLEX, LT RUBBER, CHANGTHAI, PEGASUS (Blue) and PEGASUS (China).
The annual production capacity of all sizes of rubber threads is 36,000 tons, under the
concept of being “A Manufacturer of High Quality Natural Rubber Thread”. The
company has its competitive edge in global markets because Thailand is the
world’s number one producer of concentrated latex as well as constantly having
sufficient supply of quality latex.
WFX has a registered paid-up capital of THB 464.20 million, consisting of 322.20
million existing common shares and 142 million newly issued shares, with a par
value of THB 1.00 each. It offered newly issued shares to the public during
December 9 – 17, 2021, at THB 7.20 each, for a total of THB 1.02 billion. KTBST
Securities pcl is the financial advisor and lead underwriter.
WFX Chief Executive Officer Chawalit Tiyadechachai said that WFX has had
expertise and experience in this business for more than 30 years. The company is
committed to being one of the world’s leading manufacturers of rubber threads
with internationally recognized quality to serve the demand of customers in many
industries. The company also provides services for the greatest customer
satisfaction. WFX plans to invest THB 740 million in a new rubber thread factory
to increase the installed capacity to 61,000 tons from 47,160 tons annually
starting from the year 2023. Significantly, WFX places great importance on
eco-friendly production and social responsibility to create steady and
sustainable growth.
WFX’s major shareholder after the IPO is Thai Rubber Latex Group pcl (TRUBB)
(66.35 percent).
WFX’s dividend policy is to pay no less than one-third of net profit from the
company’s separate financial statements after corporate income tax and all
reserves required by law and the company’s regulations.
For more information on WFX, please see the company’s prospectus at the
Securities and Exchange Commission’s website at www.sec.or.th; and for general
information, please visit www.worldflex.net, and www.set.or.th.
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