Bangkok--20 Nov--The Way Communications
The Securities and Exchange Commission Thailand (SEC) dated the filing of CAZ (Thailand) Public Company Limited or "CAZ" for listing in the Market for Alternative Investment (MAI). The Company plans to sell 80 million of initial public offering (IPO) shares in order to raise working capital used for collateral to secure bank loans, a purchase of equipment and machinery as well as IT development.
CAZ financial advisor, Mrs. Piyapa Jongsathien, Managing Director of S14 Advisory Company Limited, said that the SEC has recently received and dated a filing of CAZ. The Company is planning to be listed in the Market for Alternative Investment or MAI and will offer 80 million of IPO shares.
"CAZ has a vision to be one of the leaders in the construction business. The Company' strategy is to provide a professional construction service and operational excellence with a purpose to enhance its engineering service and closely manage operating costs for sustainable growth. It also aims at providing large-scale construction projects worth billions of Baht," said Mrs. Piyapa.
Mr. Soong Sik Hong, Chief Executive Officer of CAZ (Thailand) Public Company Limited, said that this fundraising will enable the Company to increase its capability to serve more future works. The fund raised will be used as collateral for securing bank loans and investing in equipment and IT development. CAZ's core business includes engineering design service, machinery and equipment supply as well as engineering, procurement and construction (EPC) for the gas & oil and petrochemical industry. To fulfill customer's needs, the Company's services range from project owners to main contractors. Since CAZ services are sophisticated and safety measures restricted, the expertise is highly required. The Company's business and services comprise of four main categories including: 1. Engineering, Procurement and Construction (EPC) 2. Structural Mechanical Piping (SMP) and Electrical and Instrument Service 3. Civil and Building Service and 4. Fabrication and other services.
Ms. Phornthiphat Khantheevit, Assistant to Accounting and Finance Director of CAZ (Thailand) Public Company Limited, added that the extensive experience and expertise from successful operations of many projects in Thailand in the past as well as the systematic cost management and the sound control system have driven CAZ to effectively manage and control its construction costs. In addition, the Company has been able to deliver the products on time. As a result, we have gained high trust from customers all the times. Finally, this fundraising has also helped reduce the Company's Debt to Equity Ratio (D/E) and increase its financing channels in the future.