Tyre manufacturer ND Rubber Plc (NDR) will float 65 million shares to the public through the Market for Alternative Investment, priced at 2.7 baht apiece for debt repayment.
Managing director Chaiyasit Samrittivanicha said about 100 million baht available from the initial public offering (IPO) would be allocated to repay debts mainly incurred from the company’s Chon Buri plant expansion, with the rest to be used as working capital.
Since 2013, NDR has expanded annual production capacity of its motorcycle tyres at the Ban Bung plant to 3.5 million units from 2.4 million, with an investment cost of 300 million baht. The new capacity…
The new capacity is due to be launched in the first quarter of this year. According to the company’s filing to the Securities and Exchange Commission, NDR reported revenue of 738 million baht in 2011, 827 million in 2012 and 853 million in 2013.
The new capacity is due to be launched in the first quarter of this year.
According to the company’s filing to the Securities and Exchange Commission, NDR reported revenue of 738 million baht in 2011, 827 million in 2012 and 853 million in 2013.
Last year’s revenue was projected to drop by 6-7% due to sluggish motorcycle sales.
NDR expects its revenue to top 1 billion baht in 2016.