Crane firm Alla sets IPO price
ALLA HAS set the share price for its initial public offering at Bt2.88, and expects to debut on the Stock Exchange of Thailand on November 8.
The crane and hoist manufacturer and distributor expects to sell 150 million IPO shares at Bt2.88 each, raising Bt432 million. The subscription period is October 31 to November 2.
The IPO price was based on Alla’s fundamentals of expertise and experience as a manufacturer, distributor and installer of equipment for movement of materials, tools and products in manufacturing plants and warehouses, said Thawatchai Vorawandthanachai, managing director of Advisory Plus, Alla’s financial adviser.
“Alla has been in the crane and hoist business for more than 20 years. It has established itself as one of the top operators in this industry, while developing its business for future market expansion,” Thawatchai said. Alla recently appointed Capital Nomura Securities as the lead underwriter.
“After raising these funds, Alla will see higher business capability and competitiveness in the country and overseas. The company is gearing up for business expansion,” said Ong-ard Puntuyakorn, managing director of Alla.
