Abstract
The Stock Exchange of Thailand will list NL Development pcl on Feb 20 with a market capitalization of THB 1.30 billion. NL offers building construction services and plans to use IPO proceeds for equipment and working capital. The company’s dividend policy is to pay at least 50 percent of net profit to shareholders.
Listing of NL Development pcl on the Stock Exchange of Thailand
The Stock Exchange of Thailand is set to list NL Development pcl, a provider of building construction services, on Feb 20 under the ticker symbol “NL”. The company’s initial public offering (IPO) has a market capitalization of THB 1.30 billion (approx. USD 36.31 million). According to SET Senior Executive Vice President Manpong Senanarong, NL will be listed and start trading on SET in the Property & Construction industry group, Construction Services sector.
Services and Financial Details of NL Development pcl
NL provides a full range of building construction services, from surveys to design and construction as a main contractor. It has a subsidiary engaging in labor-related businesses, a steel bar cutting and bending plant, and a wooden furniture plant. After the IPO, NL has a paid-up capital of THB 500 million, with 370 million existing common shares and 130 million newly issued shares. The company’s dividend policy is to pay at least 50 percent of net profit from its separate financial statements after tax and all reserves required by law and its articles of association.
