PALMOILMAGAZINE, BANGKOK – The Stock Exchange of Thailand (SET) has officially announced the listing of Petchsrivichai Enterprise PCL (PCE), a leading fully integrated palm oil company. PCE’s stock is now trading under the symbol “PCE,” following a successful initial public offering (IPO) that raised approximately THB 6.27 billion (USD 185.39 million) in capital.
SET Vice President Amnouy Jiramahapoka welcomed PCE to the agro, food, and agribusiness sectors, stating, “PCE’s listing will expand investment options in these growing industries.”
PCE operates primarily in the palm oil sector, with four key business areas: production and distribution of palm oil and its derivatives, including biodiesel and palm olein; port and storage services; land transportation; and ship transportation services.
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As Palmoilmagazine.com 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. (P2)
