Market for Alternative Investment (mai) will list Pilatus Marine pcl, a liquefied petroleum gas (LPG) carrier for both marine and land transport, on April 27 under the ticker symbol “PLT”. The company has a market capitalization at its initial public offering (IPO) of THB 1.488 billion (approx. USD 43.105 million).
mai President Prapan Charoenprawatt said PLT will be listed and starts trading on the mai in the Services industry group.
PLT and its subsidiary are liquefied petroleum gas (LPG) carriers for both marine and land transport, in shipping routes along the Gulf of Thailand and near-coastal areas including Cambodia and Vietnam. The company presently owns 19 vessels, and 44 trucks for transport service. The company’s target customers are large LPG manufacturers or distributors in Thailand such as PTT Oil and Retail Business pcl, PTT pcl, and WP Energy pcl. In 2022, revenue from LPG marine transport accounts for 94 percent and land transport makes up 6 percent, with almost 90 percent of the marine transport revenue is generated by domestic water transport in terms of Contact of Affreightment (CoA).
PLT has a paid-up capital of THB 480 million after the IPO consisting of 680 million existing common shares and 280 million newly issued shares, with a par value of THB 0.50 each. Of the total newly issued shares, the company offered 238.9 million shares to persons at underwriters’ discretion, up to 36.8 million shares to its patrons and up to 4.3 million shares to its employees between April 19…