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NL Development (NL) begins trading on the Stock Exchange of Thailand
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.
NL engages in the business of providing construction services for buildings and structures which provides comprehensive services starting from surveying, designing and building construction. As the main contractor It has the potential to receive work from both the public and private sectors. They have expertise in the construction of buildings with special structures and specialized standards. Especially hospital buildings.
In the past 3 years, the company has received most of its income from government customers. From work in the hospital category In addition, to support the operations of the company. Therefore, a subsidiary company was established to conduct labor business. Including a rebar cutting and bending factory to manage rebar usage efficiently and a wooden furniture production factory to support customer needs in building interior decoration work. As of September 30, 2023, the company has 10 projects that have not yet been delivered, representing an unrealized value of 2,107 million baht.
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