SET - The Stock Exchange of Thailand

09/29/2021 | Press release | Distributed by Public on 09/28/2021 23:56

mai News :mai welcomes precast concrete producer 'CPANEL' on Sep 30

SET News 71/2021 September 29, 2021 mai welcomes precast concrete producer "CPANEL" on Sep 30 Bangkok, September 29, 2021 - Market for Alternative Investment (mai) will list CPanel pcl, a producer and distributor of precast concrete slab, wall panels and building components made from precast concrete, on September 30, under the ticker symbol "CPANEL". The company has a market capitalization at its initial public offering (IPO) of THB 900 million (approx. USD 26.93 million). mai President Prapan Charoenprawatt said CPANEL would list and start trading on mai in the Property & Construction industry group. CPANEL produces and distributes precast concrete slabs and wall panels, as well as building components made from precast concrete such as beams, stairs, loadbearing walls, facades, etc., under "CPANEL" brand. These materials are used for the construction of residential properties, office buildings, hotels, cargo warehouses and factories, categorized into two groups:1) precast concrete panels, and 2) precast concrete components for buildings and other construction materials, generating revenue ratio of approximately 84 : 16 in the first six months of 2021. The primary customers are property developers, while the secondary customers are building contractors, at the ratio of 80-85 : 20-25, based on the data from 2018 to 2020. CPANEL has a registered paid-up capital of THB 150 million, consisting of 110.50 million existing common shares and 39.50 million newly issued shares, with a par value of THB 1.00 each. It offered 29.63 million newly issued shares to persons at the underwriter's discretion, 5.93 million shares to its contributors and 3.95 million shares to its directors, executives and/or employees during September 21-23, 2021, at THB 6.00 each for a total of THB 237 million. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 31.58 times. The earnings per share is equal to THB 0.19, calculated from the company's net profit of THB 28.57 million in the past four quarters (from July 1, 2020, to June 30, 2021), divided by fully diluted shares. Asset Pro Management Co., Ltd. is its financial advisor and Finansia Syrus Securities pcl is the lead underwriter. CPANEL Chief Executive Officer Chakrit Theepakornsukkasame said that the company's executives and staff have had long-standing expertise in the precast concrete industry and good ties with customers and business partners. The company is equipped with fully automated production technology with machinery acquired from Germany, completely computer-controlled, as such enabling speedy and precise dimensions of the products. The fundraising will be used for building new factories to increase production capacity, repay loans, and as working capital. CPANEL's two major shareholders after the IPO are Chakrit Theepakornsukkasame's group (47.73 percent) and Nipon Leelasithorn's group (7.61 percent). The company's dividend policy is to pay no less than 40 percent of net profit from its separate financial statement after legal reserves and other reserves as specified by the company. For more information on CPANEL, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.cpanel.co.th, and www.set.or.th. "SET...Make it Work for Everyone" Follow us on Twitter @SET_Thailand_EN ______________________________________________________________________