SET closes up 4.20 to 1,436.36

The Stock Exchange of Thailand main index rose 0.29%, or 4.20 points, to 1,436.36 on Wednesday.

Total trading value was 37.19 billion baht, with 11.83 billion shares changed hands.

SET50 index climbed 0.27%, or 2.50 points, to 943.86 in trade worth 19.65 billion baht.

The MAI index gained 0.83%, or 5.02 points, to 609.04, in total transaction value of 2.24 billion baht.

Brokers bought a net 1.26 billion baht, followed by local institutions (160.46 million). Small investors sold a net 1 billion baht, followed by foreigners (421.04 million).

The shares of Asefa Plc, a manufacturer and distributor of electrical power distribution products, first traded on the SET's Industrial Materials & Machinery sector, on Wednesday, under the ticker symbol ASEFA.

The company has a market capitalisation at its initial public offering (IPO) of 2.04 billion baht, according a SET statement.

The company was a switchboard manufacturer and distributor under "Asefa" brand. It is also a sole distributor of the world's leading brands namely, Schneider Electric Industries and Socomec.

The company also distributed electrical power distribution-related products and provided technical and after-sales services.

The main target clients were system contractors, construction contractors and project owners.

ASEFA has a paid-up registered capital of 550 million baht, consisting of 400 million existing common shares and 150 million newly issued shares, with a par value of one baht each, the statement said.

It offered 10 million newly issued shares to executives, directors and employees and 140 million shares to the general public via the IPO, at 3.70 baht each, for a total 555 million baht, during July 28-29 and 31, 2015.

The fund raised would be used to build factories, set up new branches in provinces, repay debts and as working capital.

ASEFA's major shareholders after IPO are Phaiboon Ungkanakornkul (40.45%), Sa-Ngeam Klomchitcharoen (10.90%), Chairat Tangtivaja (10.81%) and Pornchai Uraisin (10.78%).

The IPO price was equivalent to a price-to-earnings ratio of 17.62 times, calculated by using the net profit in the past 12 months to March 31, 2015.