กรุงเทพฯ--14 ธ.ค.--SET
The Stock Exchange of Thailand (SET) welcomes Hydrotek pcl to its Market for Alternative Investment (mai). The company will list and start trading on November 15, under the ticker symbol "HYDRO," after it raised about THB100 million (approx. USD 3.23 million) through an initial public offering (IPO).
HYDRO operates environmental engineering services, such as water treatment systems, wastewater treatment solutions, recycling, solid waste treatment, and waste—to-energy solutions. It has a paid-up registered capital of THB 130 million, with a par value of THB 1 each. It has sold 30 million new shares at THB 3.39 each on December 6-8. Asset Pro Management Co., Ltd. is the company's financial advisor and Finansia Syrus Securities pcl is its underwriter.
"Environmental engineering is quite rare in Thailand, but is currently gaining significantly more attention, especially in an age where industries must operate with care for the environment. The listing of Hydrotek on mai will be a potential alternative for investors," said Chanitr Charnchainarong, SET Chief Issuer & Listing Officer and mai's President.
Slib Soongswang, HYDRO's Chief Executive Officer, said; "Listing on the mai will boost the company’s competitiveness and increase our working capital, enabling us to take big-value jobs. The previous profiles have proved our readiness in technology and experience, which we used to provide high-quality outputs and beat foreign companies. This fundraising’s proceeds will be used to buy machinery for construction of water production plant. In addition, the current floods should be a great opportunity for us to get projects relating to restoration, water production and wastewater treatment in industrial estates.”
In the first nine months, total revenues were THB 492.89 million and net profit THB 35.42 million.
The P/E ratio of the company at its IPO price was 9.16 times, while its dividend policy is to pay no less than 40 percent of net profits after taxes and legal reserves. HYDRO's three major shareholders after IPO are the Slib Soongswang group (21.15 percent), Pichai Klongpitak (14.74 percent), and Kanidchon Leesakul group (8 percent).
For more information on HYDRO, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.hydrotek.co.th and www.set.or.th.