Bangkok: The Stock Exchange of Thailand (SET) welcomes Mastec Link Public Company Limited (MASTEC) to begin trading in the Industrial Products Group as of October 27. MASTEC, known for importing and distributing engineering products and providing integrated engineering solutions, will trade under the abbreviation “MASTEC.”
According to Thai News Agency, Mr. Sorawit Krairiksh, Deputy Managing Director of the Issuer and Marketing Division at SET, emphasized MASTEC’s commitment to enhancing potential and expanding business with a focus on efficiency, safety, and environmental sustainability. This aligns with the growing trend of sustainable industrial development. MASTEC’s operations encompass three primary product groups: air conditioning and sanitation systems, fire protection and safety systems, and energy and environmental conservation products and innovations. The company is the exclusive distributor for 30 global brands from countries including the United States, China, Germany, Australia, and Taiwan, and also offers products under its own brand.
Mr. Dusadee Meechai, Chief Executive Officer of Mastec Link Public Company Limited, expressed delight over the listing, viewing it as a crucial step for MASTEC’s stable and sustainable growth. The funds raised are slated for expanding the engineering product business, developing fire protection products, increasing marketing channels nationwide, and serving as working capital. MASTEC aims to deliver environmentally friendly building systems engineering technology solutions with a specialized team of engineers and experts.
MASTEC’s IPO resulted in a paid-up capital of 300 million baht, with shares priced at 1.45 baht each, leading to a market capitalization of 435 million baht at the IPO price. The price-to-earnings ratio stands at 9.06, calculated from the company’s net profit over the last four quarters. Asset Pro Management Co., Ltd. acted as the financial advisor, while Phillip Securities (Thailand) Public Company Limited served as the underwriter and distributor of common shares.
Post-IPO, the top three shareholders are Mr. Kamthon Kunanprat and Mr. Dusadee Meechai, each holding 25.00% of shares, and Dr. Rompho Suwannik with 24.56% of shares. MASTEC has a dividend payment policy of no less than 40% of net profit, considering various factors for the benefit of the company and its shareholders.