SAV shares traded on the first day, closing the morning half-day at 17.90 baht, down 1.10 baht from the IPO price of 19 baht, or a decrease of 4.74%.
Mr. Phakorn Peetathawatchai, Director and Manager of the Stock Exchange of Thailand (SET), Mr. Manpong Senanarong, Deputy Manager of SET, and Mr. Teerachai Phongpanangam, Director and General Manager of Samart Aviation Solutions Company Limited. Public Company Limited participated in the opening ceremony for the sale of assets of Samart Aviation Solutions Public Company Limited (SAV), the sole provider of comprehensive air traffic control management services throughout Cambodia's airspace. With a security value at the IPO price of 12,160 million baht, using the trading abbreviation "SAV" on the first day of trading at 18.80 baht from the IPO price of 19 baht, a decrease of 0.20 baht or a decrease of 1.05% before moving up to the highest at 19.10. baht and the market closed for half a day in the morning at 17.90 baht, a decrease of 1.10 baht or a decrease of 5.79%.
Mr. Teerachai Phongphanangam, President of Samart Aviation Solutions Public Company Limited, revealed that Cambodia's Tourism Authority revealed that SAV is a company in the Samart Corporation Public Company Limited group. It conducts business by holding shares in other companies. (Holding Company) currently holds 100% of shares in Cambodia Air Traffic Services Company Limited or "CATS" which was established and registered in Cambodia. Operates the sole air traffic management business in Cambodia according to a 49-year concession contract (2002 - 2051) covering all airports and flight routes in the entire airspace of Cambodia, consisting of 3 international airports and airports in 3 countries, 18 international flight routes and 20 domestic flight routes, providing complete services. including air traffic management and airspace management, air navigation communications and aircraft tracking, Flight information and design of flight plans and air navigation maps. To ensure air traffic in Cambodian airspace is flexible, safe and efficient in accordance with safety standards from the International Civil Aviation Organization (ICAO).
The IPO price is 19.00 baht, representing a fund-raising value of 1,216 million baht from new shares and has a security value at the IPO price of 12,160 million baht. The money received from fundraising is to be used as working capital within the business. And to be able to repay all debts with financial institutions 100%. When debt is free, it will be able to generate profits and good dividends for investors in the future. This listing will help support the company's financial strength. and increase the potential to expand services in 3 new airports that are prepared to open within the year. 2024.
Source: Thai News Agency