CAZ launches Roadshow in Bangkok on 19th December To list IPO of 80 million shares on mai

Wednesday 19 December 2018 16:09
CAZ (Thailand) Public Company Limited or "CAZ" launches the roadshow in Bangkok on December 19th, 2018 for its initial public offering of 80 million shares which is going to be listed on the Market for Alternative Investment (mai) in order to raise capital to serve future works.

CAZ financial advisor, Mrs. Piyapa Chongsathien, Managing Director of S14 Advisory Company Limited, said that CAZ has on 19th December 2018 launched the roadshow in Bangkok to provide details to investors and general public of its listing plan which has been well received.

CAZ plans to be listed on the Market for Alternative Investment or mai and will offer 80 million of IPO shares, equivalent to 28.57% of total issued and paid-up shares after allotment, following the recent Securities and Exchange Commission Thailand (SEC) approval of the filing of CAZ. The Company expects to offer its newly issued shares and to be listed on the mai by early 2019.

Mr. Chung Sik Hong, Chief Executive Officer of CAZ (Thailand) Public Company Limited, said that this fundraising will enhance the Company's capability to secure more future works. The fund raised will be used as collateral for securing bank loans, investing in equipment and IT development and used as working capital.

CAZ's core business is an integration of engineering design service, machinery and equipment supply as well as engineering, procurement and construction (EPC) for the gas & oil and petrochemical industry in order to meet all customer needs. The Company secures works directly from the project owners and the main contractors. Since CAZ services are sophisticated and have strict safety measures, the expertise is highly required. The Company's business and services are comprised of four main categories including: 1. Engineering, Procurement and Construction (EPC) 2. Structural Mechanical Piping (SMP) and Electrical and Instrument Service 3. Civil and Building Service and 4. Fabrication and other services.

Miss Phornthiphat Khantheevit Chief Finance Officer of CAZ (Thailand) Public Company Limited, (CAZ) added that with high experience and deep expertise cumulated from successful projects in Thailand and efficient cost management and control system under the supervision of Cost Management Department, the Company is able to efficiently manage and control construction cost and deliver complete work on time as scheduled. This creates better clients experience and boosts strong confidence in the Company.

This fundraising will also bring down the Company's debt to equity ratio, thus, enhance potential to access funding sources and to expand financing alternatives as well as extend credit limit to serve future works.

"Regarding performance in the first 9 months of 2018, the Company records revenue of 1,060.09 million baht, an increase of 81.02% compared to 585.61 million baht as of end-September 2017. Net profit stood at 39.34 million baht, 549.17% higher than the end-September 2017 level of 6.06 million baht. For the full year 2017, revenue of the Company totaled 1,019.29 million baht, went up by 56.50% from 651.30 million baht as of end 2016. Net profit amounted to 23.17 million, rose by 82.73% from 12.68 million baht as of end 2016", Miss Phornthiphat said.