Hydrotek starts trading on Dec 15
Hydrotek Plc, an environmental engineering firm, will start trading on the Market for Alternative Investment (MAI) on Dec 15, after mobilising Bt101.7 million from the initial public offering.
Listed on MAI as the sixth stock this year, Hydrotek provides water and waste treatment services. During Dec 6-8, it sold 30 million shares to the public at Bt3.39 apiece. Asset Pro Management Co Ltd is the financial advisor and Finansia Syrus Pls is the underwriter.
"The listing will enhance the company's competitiveness," said CEO Slib Soongsawang. "With higher working capital, we can bid for projects of higher value. We're ready in terms of technology and experience, to compete against foreign firms."
Parts of the proceeds from the IPO will be used to buy new machinery for a water making project.
In the first nine months, the company showed net profit of Bt35.42 million on top of Bt492.89 million in revenue.
