mai welcomes cleaning & sanitizing business operator “PRAPAT” on Oct 20

Stocks News Monday October 19, 2020 17:34 —PRESS RELEASE LOCAL

mai welcomes cleaning & sanitizing business operator “PRAPAT” on Oct 20

The Market for Alternative Investment (mai) will list Peerapat Technology pcl, a manufacturer and distributor of industrial cleaning and sanitizing products under Peerapat brand, on October 20, under the ticker symbol "PRAPAT". The company has a market capitalization at its initial public offering (IPO) of THB 510 million (approx. USD 16.2 million).

mai President Prapan Charoenprawat said that PRAPAT would list and start trading on mai in the Industrials industry group.

PRAPAT and its subsidiaries manufacture and distribute cleaning and sanitizing products under the "PEERAPAT" name, as well as import and distribute cleaning and disinfection machines and equipment, consisting of dish washers, floor cleaning machine and equipment, ready-made swimming pool and pool products, including energy-efficient water heater. The company?s main customer group is the hospitality industry, such as hospitals, hotels and resorts, restaurants and beverages, among others. Moreover, PRAPAT offers rental business and services related to the company?s own products covering kitchen, swimming pool, energy-saving hot water products, and various other services.

PRAPAT has a registered paid-up capital of THB 170 million, consisting of 240 million existing common shares and 100 million newly issued shares, with a par value of THB 0.50 each. It offered the newly issued shares to the general public on October 12, and 14-15 at THB 1.50 each, for a total of THB 150 million. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 11.90 times, calculated by using the company's net profit in the past 4 quarters (July 1, 2019 - June 30, 2020) of THB 42.85 million, divided by fully diluted shares, representing earnings per share of THB 0.126. Asset Pro Management Co., Ltd. is its financial advisor and Capital Nomura Securities pcl is the lead underwriter.

PRAPAT Vice Chairman of the Board of Directors Suebpong Ketnute said that the company has had expertise in cleaning and sanitization business for over 30 years. PRAPAT focus on pioneering cleaning technology and innovation, research and development of high-quality cleaning and sanitizing products, while offering one-stop service to customers. The company has gained customers? trust, and expanded the customer base internationally. PRAPAT currently has dealers across five countries in Cambodia, Vietnam, Myanmar, Laos, and Indonesia.

PRAPAT Chief Executive Officer Veerapong Luesakul added that the fund raised would be used to invest in the accounting system and the production control system, as well as warehouse construction, and as working capital.

PRAPAT?s three major shareholders after the IPO are Suebpong Ketnute?s group (15.58 percent), Veerapong Luesakul?s group (12.03 percent), and Chonatee Twiltermsup?s group (11.25 percent). The company?s dividend policy is to pay no less than 30 percent of net profit from the company?s separate financial statement after corporate income tax and legal reserves.

For more information on PRAPAT, please see the company?s prospectus at the Securities and Exchange Commission?s website at; and for general information, please visit as well as

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