LiVEx President Prapan Charoenprawatt said that SITRON22 will be listed and start trading on LiVEx, a stock exchange for small and medium-sized enterprises (SMEs) and startups.
SITRON22 is one of the companies that have been well prepared via LiVE Platform designed to provide knowledge, boost potential and create readiness for entrepreneurs. SITRON22 provides engineering, procurement, construction and installation of end-to-end solar power generating system, consisting of solar rooftop, solar ground mount, and solar floating systems. The main customers are 1) power producers who produce for their own use comprising industrial plants, commercial establishments, hospitals, schools, gas stations, homes and government offices, 2) solar powered generators which invest in construction and installation of solar power generating systems for industrial plants, commercial establishments, buildings and homes aiming to produce electricity and feed into grid to target consumers at a discounted price.
SITRON22 has a paid-up capital of THB 72 million, consisting of 60 million existing ordinary shares and 12 million newly issued shares, with a par value of THB 1.00 each. It offered the 12 million newly issued shares to certain persons with qualifications specified by the Securities and Exchange Commission (SEC), during December 6 - 8, at THB 5.50 each, for a total of THB 66 million. Krungthai XSpring Securities Co., Ltd. is the financial advisor and lead underwriter.
SITRON22 Chief Executive Officer Prapharat Tangkawattana said that the company prioritizes personnel development, and the quality of design, construction and installation of solar power generating systems. Based on efficient management, construction quality with safe installation and usage, cost effectiveness and prompt delivery can be ensured.
The fund raised will be used to purchase equipment for research and development, invest in a solar power generating system project to produce and distribute electricity to potential customers, and as working capital. Furthermore, SITRON22 is poised to enhance various operating systems to be well-prepared for listing on Market for Alternative Investment (mai) in the future.
SITRON22's major shareholders after the IPO are N-Large Energy Co., Ltd. (33.33 percent), Prapharat Tangkawattana (16.33 percent), and Chodchoy Sophonpanich (10.00 percent).
For more information on SITRON22, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.sitronpower.com as well as www.live-platforms.com/live-exchange
Source: LiVE Exchange (LiVEx)