Bangkok--18 Oct--SET
The Stock Exchange of Thailand (SET) will list Gunkul Engineering PCL, a business operator of electrical, renewable energy, and solar energy system, in Energy and Utilities Sector, Resources Industry Group on October 19, after raising total funds of THB540 million (approx. USD18 million). The company will be the third company to list this year and will use “GUNKUL” as its trading symbol, revealed SET Group Head, Issuer & Listing, Chanitr Charnchainarong.
GUNKUL manufactures, supplies, and distributes equipment for electrical and renewable energy systems, covering all equipment used in electricity supply and power distribution. The company set up Gunkul Powergen Co., Ltd. to generate electricity using solar power, and Gunkul Powergen has started its first project in Chondan district, Petchaboon, with 3.0 megawatts (according to the company’s prospectus). Energy and alternative energy is an area that SET and mai are encouraging to list, as they are vital industries with potential growth and need funds for expansion.
GUNKUL has a total paid-up capital of THB400 million (USD 13.33 million), consisting of 300 million existing common shares and 100 million shares from its capital increase, with a par value of THB1.00 each. At its initial public offering (IPO) on October 11-13, the company raised THB540 million (USD18 million), by offering 100 million shares at THB5.40 per share to the general public. The funds raised will be used for purchasing new machinery, electricity generating and distributing business, and as working capital. Finnex Advisory Co., Ltd. was its financial advisor. Tisco Securities Co., Ltd. was its underwriter.
IPO price was based on book building, indicating the number of shares that institutional investors desire and the price they are willing to pay.
GUNKUL’s dividend payment policy is to pay no less than 40% of net profits after taxes and legal reserves. The company’s major shareholders are Dhumrongpiyawut Group, who holds 65.12%, and Mr. Khanaphat Jirakasemphong, Mr. Chatree Thaweepreechachat, Mr. Supart Sujiwarodom, Mr. Yuthana Sitthimahachaikun, each holds 2.50%, of total shares after the IPO.
Investors and other interested parties can see more details in the company’s prospectus at the Securities and Exchange Commission’s website at www.sec.or.th . For general information, please visit the company’s website at www.gunkul.com and at www.set.or.th.
For more information, please contact S-E-T Call Center 0 2229 2222
Members of the media should contact the Public Relations Unit, Corporate Communications Dept.: Ladawan Kantawong, tel: 0-2229-2036 / Kanokwan Khemmalai tel: 0-2229-2048 / Nattaya Muangman, tel: 0-2229-2043