mai welcomes electrical equipment manufacturer and distributor “KJL” on November 22

Bangkok, Market for Alternative Investment (mai) will list

Kijcharoen Engineering Electric pcl, a manufacturer and distributor of

switchboards, electrical cable tray, electrical wiring, and customized sheet

metal works on November 22 under the ticker symbol “KJL.” The company has a

market capitalization at its initial public offering (IPO) of THB 1.57 billion

(approx. USD 43.61 million).

 

mai President Prapan Charoenprawatt said that KJL will be listed and start

trading on mai in the Industrials industry group.

KJL manufactures and distributes switchboards, electrical cable tray, electrical

wiring equipment, and tailor-made sheet metal parts produced by modern

machinery and production technology under KJL trademark. The company sells both

KJL standard and made-to-order products certified with international quality

standards. In addition, the company has been authorized by French-based

Schneider Electric to produce and sell Prisma iPM electrical switchboard of

which the factory located in Krathum Baen district, Samut Sakhon province, south

of Bangkok. KJL’s target customers are dealers, electrical contractors, general

electrical equipment stores, and various organizations. During the first six

months of 2022, KJL standard products contributed 69 percent of the company’s

total revenue, 22 percent from made-to-order products, and the remaining 9

percent from scrap metal and metal sheets.

 

KJL has a paid-up capital of THB  58 million, consisting of 86 million existing

ordinary shares and 30 million newly issued shares, with a par value of THB 0.50

each. It offered the newly issued shares of 22.5 million shares to the persons

at the underwriters’ discretion, 4.5 million shares to the company’s patrons,

and 3 million shares to the company’s directors, executives and employees,

during November 9 – 11, at THB 13.50 each, for a total of THB 405 million. The

IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 13.99 times.

The earnings per share is equal to THB 0.97, which was calculated from the

company’s net profit of THB 111.96 million in the past four quarters (from June

30, 2021 to June 30, 2022) and divided by fully diluted shares. Yuanta

Securities (Thailand) Co., Ltd. is the financial advisor and lead underwriter.

 

KJL Chief Executive Officer Kasemsan Sujiwarodom said that the listing on mai is

another step forward to enhance competitive edge towards industry excellence.

The company aims to meet the needs of diverse customers in each industry

inclusively via innovation and advanced technology, achieving high standards and

quality, with fast and prompt services. The fund raised will be used to invest

in KJL Innovation Campus, the factory construction and machinery, repay

short-term loans, acquire Solar Rooftop power generation system, and as working

capital.

 

KJL’s major shareholders after the IPO is the Sujiwarodom family group (74.14

percent). The company’s dividend policy is to pay no less than 40 percent of net

profit from the company’s separate financial statements after corporate income

tax and all types of legal reserves.

 

Source: The Stock Exchange of Thailand

Post Author: web Desk