CPANEL has set its IPO share price at 6.00 Baht for a total of 39.50 million shares, with subscription open from September 21-23. The company is preparing to trade on the mai in September. APM, the financial advisor, has stated that the business has high growth potential and has appointed FSS as the underwriter, collaborating with five other securities firms for the share distribution.

Dr. Somphop Sakpanpanom, Chairman of Asset Pro Management Co., Ltd. (APM), as the financial advisor for CPANEL Public Company Limited, announced that CPANEL has signed a contract appointing Finansa Securities Public Company Limited as the underwriter for the public offering of its common shares for the first time (IPO).

Alongside, five other underwriters include ASL Securities Co., Ltd., KTBST Securities Public Company Limited, Krung Thai Zmico Securities Co., Ltd., Land and Houses Securities Public Company Limited, and Phillip Securities (Thailand) Public Company Limited.

Mr. Somsak Sirichainarumit, CEO of Asset Pro Management Co., Ltd. (APM), as the financial advisor, stated that CPANEL plans to offer 39.50 million IPO shares, representing 26.33% of the total common shares, with a par value of 1 Baht per share. On September 17, 2021, the SEC confirmed that the registration statement and draft prospectus are effective.

CPANEL is a relatively new company, but with a well-established production and financial system, it has a strong business foundation and high growth potential. Following this fundraising, CPANEL will significantly improve its profitability as its debt-to-equity ratio will decrease.

Moreover, the demand for Precast Concrete is expected to rise due to a worsening labor shortage and legal regulations limiting the number of workers on construction sites, leading real estate developers and contractors to increasingly adopt Precast Concrete.

Mr. Somphop Kirasunthornpong, Managing Director of Finansa Securities Public Company Limited, as the underwriter for CPANEL's common stock offering, stated that the IPO of 39.50 million shares is priced at 6.00 Baht per share, with subscription dates from September 21-23, 2021. It is anticipated that CPANEL shares will begin trading on the mai in the Property and Construction sector (PROPCON) within September 2021, under the trading symbol "CPANEL."

"The IPO price is considered appropriate based on fundamental factors and aligns with current market conditions. CPANEL is a leader in the production and distribution of precast concrete panels, known for product efficiency, modern production technology, and acceptance by leading real estate and construction operators in the country. The fundraising aims to expand a new factory to meet the increasing market demand, which will enhance future growth potential," Mr. Somphop added.

Mr. Chakrit Tipakornsukasem, Managing Director of CPANEL Public Company Limited, stated that the funds raised from this securities offering will be used to construct a second factory with a fully automated production system to meet future demand. The construction period is expected from Q2/2022 to Q4/2023, with commercial operations anticipated to commence in Q1/2024, alongside repaying loans from financial institutions and using it as working capital.

"We are confident that the Precast Concrete market will continue to expand significantly, both in horizontal and vertical real estate, providing opportunities for the company to grow its market share and receive more orders, with a backlog of 1,156.03 million Baht as of June 30, 2021. This will gradually generate revenue over three years. CPANEL continuously develops product quality, management systems, production systems, and quality control systems, including fast transportation. This fundraising will enable the company to achieve its growth targets," Mr. Chakrit concluded.