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Date/Time
01 Aug 2022 12:50:00
Headline
mai News :mai welcomes concrete manufacturer & distributor "YONG" on August 2
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SET
Source
SET
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                                                             SET News 59/2022
                                               August 1, 2022

mai welcomes concrete manufacturer & distributor "YONG" on August 2

Bangkok, August 1, 2022 - Market for Alternative Investment (mai) will list Yong
Concrete pcl, a manufacturer and distributor of precast and ready-mixed
concrete products with prefabricated structure installation services, on August
2, under the ticker symbol "YONG". The company has a market capitalization at
its initial public offering (IPO) of THB 1.70 billion (approx. USD 46.31
million).

mai President Prapan Charoenprawatt said that YONG would list and start trading 
on mai in the   Property & Construction industry group.

YONG and subsidiaries manufacture and distribute precast and ready-mix concrete 
products, as well as providing prefabricated structure installation services,
under the trademark "YONG". The group of companies' products and services can be
categorized into three types as follows: 1. One-stop precast concrete product
manufacturing and distribution business, including beam structures, poles,
precast walls, piles and precast concrete fences, 2. Ready-mixed concrete
product manufacturing and distribution business; and 3. Transport service
business, operated by its 100 percent-owned subsidiary, Prom Transport Co.,
Ltd., with seven factories for precast concrete products and/or ready-mixed
concrete in Kanchanaburi, Nakhon Pathom and Chonburi provinces. For the first
three months of 2022, the group's revenue ratio of precast concrete products :
ready-mixed concrete products : transport business and other businesses is
approximately 83 : 13 : 4, completely equipped with all distribution channels
for customers' projects from both private and government sectors.

YONG has a registered paid-up capital of THB 340 million, consisting of 500 
million existing ordinary shares and 180 million newly issued shares, with a par
value of THB 0.50 each. Of the total newly issued shares, it offered not less
than 165 million shares to persons at the underwriter's discretion and
institutional investors, up to 5 million shares to the company's benefactors,
and up to 10 million shares to the company's directors, executives and
employees, during July 21-22 and 25 at THB 2.50 each, for a total of THB 450
million. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of
26.10 times. The earnings per share is equal to THB 0.10, which was calculated
from the company's net profit of THB 65.14 million in the past 12 months (April
1, 2021 - March 31, 2022), divided by fully diluted shares. Finnex Advisory Co.,
Ltd. is its financial advisor and Asia Wealth Securities Co., Ltd. is the lead
underwriter.

YONG Managing Director Sunpetch Slisatakorn said that the company has over 30 
years of experience in manufacturing concrete products, equipped with teams of
engineers who are knowledgeable and capable in production and quality control,
ready to keep the customers well-informed and provide advice from end-to-end,
starting from design, production, to installation. In addition, the company can
produce a wide range of precast concrete products, enabling the order of large
quantities of raw materials and effective negotiation with raw material
suppliers, resulting in the benefits from economies of scale. The fund raised
will be used to invest in the construction of a factory at Bang Len district,
Nakhon Pathom province (west of Bangkok) to expand production capacity and
develop related systems; to invest in the construction of a ready-mixed concrete
plant at Bang Yai district, Nonthaburi province; to repay loans to financial
institutions, and as working capital for business operations.

YONG's largest shareholder after the IPO is Slisatakorn family (72.76 percent). 
The company's dividend policy is to pay no less than 40 percent of net profit
from the company's separate financial statement after corporate income tax and
all types of reserves as specified by law and the company's regulations.

For more information on YONG, 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.yongconcrete.co.th  as well as www.set.or.th.

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