GPI plans post-offering Asean shows

GPI plans post-offering Asean shows

The Bangkok International Motor Show, held in March and April, is a key event staged by Grand Prix International.
The Bangkok International Motor Show, held in March and April, is a key event staged by Grand Prix International.

SET-listed Grand Prix International Plc (GPI) intends to hold motor shows throughout Asean after its initial public offering (IPO) last week.

On Dec 1, GPI had its first day of trading on the Stock Exchange of Thailand and floated 100 million shares at a price of 3.50 baht a share, representing 16.67% of the company's paid-up capital.

GPI is the organiser of the Bangkok International Motor Show, held for 12 days annually from late March to early April, and the Bangkok Used Car Show, which runs for four days around the same time.

Thailand has two big motor shows. The other is the Thailand International Motor Expo, currently running until Dec 11.

Chief executive Prachin Eamlumnow said GPI is now a specialist after organising motor shows for 38 years in Thailand and the next milestone is to hold exhibitions across Asean.

"We have decided to list on the stock market because we aim to strengthen our financial structure to be ready for the regional outlook," Mr Prachin said.

He said GPI recently teamed up with local organisers to hold the Myanmar International Motor Show. The two parties signed a memorandum of understanding for three years to jointly hold auto exhibitions.

The first motor show in Myanmar will take place next Jan 18-21.

"Malaysia is one of the potential markets that GPI plans to enter with the auto showcase," Mr Prachin said.

He said GPI is keen to hold other events such as motor races to support car and motorcycle makers. The company own the rights to organise Air Race 1, known as the Formula One of aeroplanes.

At present, GPI's revenue from organising exhibition business accounts for 83% of total revenue.

Found in October 1970 by Mr Prachin, GPI is also a media publisher in the automotive sector and has its owned printing house in Ladplakao.

GPI publishes five magazines -- Grand Prix, Off Road, Motorcycle, XO-Autosport and Garage Life -- and one newspaper, Yuadyan.

Mr Prachin said GPI is still involved in media, though print could be recognised as a sunset business. The company has closed three magazines it used to publish.

Nonetheless, GPI plans to buy new printing machines using funds raised from the IPO to serve future orders for books, journals, catalogues, calendars, leaflets and brochures.

GPI shares closed Monday on the SET at 3.34 baht, up 18 satang, in trade worth with 196.1 million baht.

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