ข่าวประชาสัมพันธ์เศรษฐกิจ/การเงิน

mai welcomes engineering contractor Thai Enger Holding on October 24

          Market for Alternative Investment (mai) will list Thai Enger Holding pcl, a holding company that invests in a core company operating as civil engineering contractor, on October 24 under the ticker symbol "TIGER". The company has a market capitalization at its initial public offering (IPO) of THB 1.68 billion (approx. USD 50.9 million).
          mai President Prapan Charoenprawatt said that TIGER would list and start trading on mai in Property & Construction Industry Group. TIGER is a holding firm that invests in Thai Enger Co., Ltd. (TEC) engaged in construction contractor services for civil engineering as well as civil and architectural design. 
          TEC has two subsidiaries providing construction-supporting businesses: TEG Aluminum Co., Ltd. or TEA, a producer and installation & design service provider for architectural glass and aluminum, and TE Mec Co., Ltd. or TEM, a water treatment and waste water management system manufacturer, and design & installation service provider, as well as distributor for related material and equipment. TIGER group has expertise in providing services to both public and private sectors, and its profile portfolio also includes building condominiums, hotels and resorts.
          TIGER has a registered paid-up capital of THB 230 million, consisting of 337.72 million existing common shares and 122.28 million newly issued shares, with a par value of THB 0.50 each. It offered 91.71 million newly issued shares through underwriters, 18.34 million to patrons of the company and its group, and 12.23 million to directors, executives and employees of the company during October 10 - 12, 2018 at THB 3.65 each, for a total of THB 446.32 million. KTB Securities (Thailand) pcl is its financial advisor and lead underwriter. 
          TIGER Chief Executive Officer Jaturong Srikulruangroj said that the company is committed to human resource and business development in all areas not only engineers, adoption of information technology system and new innovations related to construction to enhance working efficiency, good relationship with trade partners, as well as using quality materials at reasonable prices. In addition, the company also focuses on after sales service which is the group's competitive edge rendering satisfaction to current customers, and leading to repeat customers mostly via word-of-mouth recommendations. The fund raised from this listing would be used as the group's working capital.
          TIGER's three major shareholders after IPO are Srikulruangroj's Group (43.23 percent), Kitti Dusadeeputiphan (28.78 percent), and Yuwathaworn's Group (3.10 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 22.99 times, calculated by using the company's net profit in the past 12 months (July 1, 2017 - June 30, 2018) amounting to THB 73.04 million, divided by fully diluted shares, representing earnings per share of THB 0.16. TIGER's dividend policy is to pay no less than 30 percent of net profit after corporate income tax and legal reserves.
          For more information, please see the company's prospectus at the Securities and Exchange Commission's website atwww.sec.or.th; and for general information, please visit www.thaienger.com, as well as www.set.or.th.