The Stock Exchange of Thailand (SET) informed that it will list TEAM Consulting Engineering and Management pcl, an integrated consulting service provider for engineering and environmental services, including Environmental Impact Assessment (EIA) report preparation, on July 12, under the ticker symbol “TEAMG”. The company has a market capitalization at its initial public offering (IPO) of THB 1.65 billion (approx. USD 50 million).
SET President Pakorn Peetathawatchai said TEAMG would list and start trading on SET in the Services industry group, Professional Services sector. TEAMG provides one-stop services, focusing on the study, design and preparation of reports, project and construction management, as well as other related businesses.
TEAMG’s main customers are in public and private sectors, operating in both Thailand and abroad, such as Lao People’s Democratic Republic and Myanmar. Transportation, logistics, and water resources businesses are TEAMG’s major income contributors.
TEAMG has a registered capital paid-up of THB 340 million, consisting of 500 million existing common shares and 180 million newly issued shares, with a par value of THB 0.50 each. It offered the entire newly issued shares to general public via IPO during July 4-6, at THB 2.42 each, for a total of THB 436 million. Asset Pro Management Co., Ltd. is its financial advisor while Finansia Syrus Securities pcl is the lead underwriter.
TEAMG President Chawalit Chantararat said that the fund raised would be used to strengthen the company’s capital base for business expansion in the ASEAN region by improving technology adoption and enhancing workforce potential in steps towards a leading integrated engineering consultant in ASEAN.
TEAMG’s three major shareholders after the IPO are Prasert Patramai’s group (13.76 percent), Peerawat Premchun’s group (8.38 percent) and Thanasarn Khuayjarernoanishk’s group (6.26 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 13.44 times calculated by using the company’s net profit in the past 12 months (April 1, 2017 – March 31, 2018) amounting to THB 119.32 million, divided by 680 million shares (fully diluted), resulting in an earnings per share of THB 0.18. TEAMG’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 other reserves, under the condition that such dividend payment depends on necessities and suitabilities in accordance with the Board of Directors’ approval.