mai President Prapan Charoenprawatt said that CRD would list and start trading on mai in the Property & Construction industry group. CRD is a building construction, common infrastructure and utility system contractor, providing services according to the customers' design specifications to serve both private and government sectors. The company supervises and controls quality of construction projects from its subcontractors.
CRD has a paid-up capital of THB 250 million, consisting of 350 million existing common shares and 150 million newly issued shares with a par value of THB 0.50 each. The company offered the newly issued shares to general public via IPO during September 27-29, 2017, at THB 1.44 each for a total of THB 216 million. Asset Pro Management Co., Ltd. is the financial advisor, while Phillip Securities (Thailand) pcl is its lead underwriter.
CRD Managing Director Thirapat Chirapipat said as our projects are supervised byexperienced engineers and specialists to ensure quality, and as a result have gained customers' trust for more than 27 years. The fund raised will be used to buy machinery, equipment and vehicles to enhance the company's potential to handle more projects, expand engineering team, expand design service; and as working capital for business expansion.
CRD's three major shareholders after the IPO are Chirapipat family (39.76 percent), Kanok Srikanok (14.98 percent), and Chalermsak Nimapan (10.50 percent).The IPO price was equivalent to price-to-earnings (P/E) ratio of 24.00 times calculated by using the company's net profit in the past four quarters (July 1, 2016 - June 30, 2017) at THB 31.63 million divided by fully diluted shares, representing earnings per share of THB 0.06. CRD's dividend policy is to pay no less than 40 percent of net profit, after legal reserves.
For more information, please see the company's prospectus at the Securities and Exchange Commission's website www.sec.or.th and www.cmrd.co.th, as well as www.set.or.th .