BANGKOK, The Stock Exchange of Thailand (SET) will list TEKA
Construction pcl, a construction contractor, on June 15, under the ticker symbol
“TEKA”. The company has a market capitalization at its initial public offering
(IPO) of THB 1.28 billion (approx. USD 37.1 million).
SET Senior Executive Vice President Manpong Senanarong said that TEKA would list
and start trading on SET in the Property & Construction industry group,
Construction Services sector.
TEKA offers project construction services, consisting of structural engineering,
architecture, and mechanical & electrical systems. The services are inclusive,
starting from planning, and building construction supervision, to building
material sourcing. TEKA has the experience of constructing various types of
buildings, such as office buildings, hotels, hospitals, warehouses, and
condominiums, catering to both the private and the government sectors. In the
past 3 years, TEKA’s main revenue source derived from the private sector,
contributing comparatively higher profit margins.
TEKA has a registered paid-up capital of THB 300 million, consisting of 225
million existing common shares and 75 million newly issued shares with a par
value of THB 1.00 each. During June 2 – 8, it offered the newly issued shares to
persons under the underwriters’ discretion, the company’s patrons, related
person, and employees at THB 4.60 each, constituting THB 345 million. The IPO
price was equivalent to the price-to-earnings ratio (P/E ratio) of 9.91 times.
The earnings per share is equal to THB 0.46, which was calculated from the
company’s net profit of 139.21 million in the past four quarters (from the
second quarter of 2021 to the first quarter of 2022), divided by fully diluted
shares. Maybank Securities (Thailand) pcl is its financial advisor, while UOB
Kay Hian Securities (Thailand) pcl and Land and Houses Securities pcl are the
underwriters.
TEKA Chief Executive Officer Weerasak Wanitwat said that TEKA has been in the
construction and contractor business for over 38 years, with a team of
experienced executives and engineers who closely manage, monitor and supervise
the operations to ensure accuracy and quality, while enabling excellent
deliverables and services. The company therefore has competitive edge in the
bidding for construction projects. The fund raised will be used as working
capital to support more construction projects in the future.
TEKA’s dividend policy is to pay no less than 40 percent of net profit from the
company’s separate financial statement after corporate income tax and all types
of reserves as specified in laws and the company’s regulations. However, the
dividend payment is also subject to other factors such as the economic
situation, operating profit, future investment plan for the utmost benefit of
the shareholders.
TEKA’s major shareholder after the IPO is Wanit Holding Co., Ltd., which is
Weerasak Wanitwat’s group, the company’s founder, holding 75 percent.
Source: The Stock Exchange of Thailand
