Eastcoast Furnitech Co Ltd (ECF), the furniture manufacturer and exporter, will seek a listing on the Market for Alternative Investment in February.
ECF has paid-up capital of 100 million baht, which it plans to increase to 130 million baht by launching 120 million new shares at a par value of 25 satang each.
It has appointed Asset Pro Management as its financial adviser.
In the first nine months of this year, ECF reported sales revenue of 776 million baht, with net profit growth of 5-7%.
It expects full-year sales of 1.1 billion baht, growing by 18.2% to 1.3 billion in 2013.
Managing director Arak Suksawad said 60% of sales come from exports to Japan, the Middle East, India and Asean countries and the rest are from the domestic market.
ECF, which makes furniture from rubberwood and laminates, has its head office in Rayong province, where it is close to the plantations that provide its raw materials.
Its customers in Thailand are modern trade companies such as Tesco Lotus, Big C Supercenter, Home Pro and Index Living Mall.
"Our strong points are pricing, quality and on-time delivery," said Mr Arak.
Once ECF lists on the bourse, it will be the first new listing by a furniture company in two decades, as the sector is normally seen as a sunset industry.
Other companies in the sector have been hit hard by the weak global economy and products from countries with cheaper labour, said Mr Arak.
About the author
- Writer: Nuntawun Polkuamdee
Position: Business Reporter