InfoSAWIT, BANGKOK – The Stock Exchange of Thailand (SET) officially announced that Petchsrivichai Enterprise pcl (PCE), an advance and fully integrated palm oil company registered. The stock of PCE started being on the floor with the code "PCE", and in the initial public offering (IPO), the company successfully got capital expenditure about THB 6,27 billion (equal to USD 185,39 million).
Vice President of SET, Amnouy Jiramahapoka did welcome PCE into agro and food, and agribusiness group. “PCE in the stock would enrich the investors’ choices in the developing sectors,” he said.
PCE is the main company that operates palm oil business. The business is divided into four main sectors, they are, palm oil and its derivative product production and distribution, such as, biodiesel and palm olein; port and storage service; land transportation service; and ship transportation service.
As InfoSAWIT quoted on Thursday (12/9/2024) from newswit.com, after the IPO, PCE got capital in cash that reached THB 2,75 billion within THB 1 per stock. 750 million new stocks were offered for many stakeholders, such as, directors, executives, workers, customers, and institution investors. The offer was at THB 2,28 per stock and got about THB 1,71 billion. The price on profit (P/E) would be 18,94 times with the profit per stock about THB 0,12 based on the net profits that reached THB 331,22 million in the past year.
Prakit Prasitisupaphol, CEO PCE said that by registering in SET, and got fund through IPO, it would be the significant moment for the companies. “We would use the fund to expand our production capacity, escalate efficiency, and do strategic investment to get additional values on our products,” Prakit said. The IPO fund would be used as the capital to reinforce the operation of the company in many businesses.
After that, the family of Prasitisupaphol would be the main shareholder within 72,73 percent. This strategy would be reinforcing its position in palm oil industries both in the country and in international level. (T2)
