Amata Corp AMAT.BK, Thailand's largest seller of industrial land, said on Friday it expected to list its subsidiary Amata (Vietnam) Co on the Ho Chi Minh stock exchange by the end of this year.
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| Factories in Amata City Bien Hoa Industrial Park, Vietnam. |
The company planned to conclude details about the IPO and prices in the next few months and the exact timing would depend on market conditions, Vice President for investment Varaporn Vatcharanukroh told reporters.
"We are considering how to raise fund, IPO prices and shareholding structure," she said.
Amata (Vietnam), which has registered capital of $20 million, has transformed itself into a public company as part of a preparation to list, Varaporn said adding the subsidiary was also considering a dual listing plan in Bangkok and Vietnam bourses.
Amata, which owns about 60 percent in Amata Vietnam, delayed plan to list its Vietnam subsidiary from 2008 due to the global economic crisis.
Amata, a bellwether for foreign investor sentiment towards Thailand, operates two industrial estates -- Amata Nakorn in the eastern city of Chonburi and Amata City in the eastern province of Rayong. Japanese car makers are among its biggest clients.
Varaporn said she expected Amata's land sales in 2010 would be higher than 2009's as it targeted more clients from China, South Korea, Taiwan and the United States.
Shares in Amata, valued $244 million on the Thai bourse, were down 3.3 percent at 7.30 baht at 0755 GMT, while the overall market was 0.66 percent lower.
