Bangkok--18 Sep--Master Mind Communications
BJC Heavy Industries Public Company Limited (BJCHI), a new force in the international heavy-industries landscape, has submitted its filing to the Securities & Exchange Commission and appointed KGI Securities (Thailand) PLC to underwrite the initial public offering (IPO) of 80 million shares to pave the way for listing on the Stock Exchange of Thailand (SET).
BJCHI managing director Mr. Young Jun Lee stated that the company’s main businesses comprise of large-scale steel fabrication and modularization plus precast concrete that serve a large variety of heavy industries such as power plants, oil refineries and petrochemical complexes. The company has been expanding its businesses in various regions of the world notably Australasia, the Middle East, Europe and the United States. As a result of its international focus, BJCHI’s dependence on the domestic Thai market has been significantly lessened.
BJCHI’s clients are those directly owning and operating these industries as well as the EPC (Engineering, Procurement & Construction) contractors. The latter group includes internationally reputable contractors such as Laing O’Rourke Australia Construction Pty Limited in Australia, United States-based Foster Wheeler Energy Ltd and Hyundai Engineering & Construction Co. Ltd of South Korea.
Of all the international operations which have generated the bulk of BJCHI’s revenue, the company has been concentrating on expanding its operations in Australian since the country is rich in mineral resources and offers good potentials for further growth in various heavy industries.
“From humble beginnings in 1994 when the company was set up by a group of Korean engineers, we have grown to become a significant player in the international heavy-industries markets because of our production efficiency, top-quality products that meet international standards and our punctual delivery,” Mr. Young Jun Lee stated.
Meanwhile, Miss Patchpon Sankaburanuruk, Head of Investment Banking at KGI Securities (Thailand) PLC which serves as BJCHI’s financial advisor (FA) stated that the 80 million new shares being offered to the public in the IPO constitutes 25% of the company’s total registered capital of 320 million. The exercise will effectively dilute the shareholding of the Lee Family group from the previous 99.27% to the new 74.44%
Miss Patchpon stated that BJCHI is one of Thailand’s market leaders in the fields of large-scale steel fabrication, modularization, site erection and precast concrete. She added that the proceeds that will be raised from the IPO will be used in raising the company’s production efficiency, investing in more machinery and equipment, and constructing new premises as well as acquiring more lands for new plants and strengthening the company’s cash flows.