CAZ aims to sell 80m IPO shares
The Securities and Exchange Commission Thailand (SEC) has dated the filing of CAZ (Thailand) Plc or “CAZ” for listing in the Market for Alternative Investment (MAI).
The company plans to sell 80 million initial public offering (IPO) shares in order to raise working capital to be used for collateral to secure bank loans, to purchase equipment and machinery as well as for IT development, said financial advisor Piyapa Jongsathien, managing director of S14 Advisory Co Ltd yesterday.
CAZ’s chief executive Soong Sik Hong said that this fundraising would enable the company to increase its capability to serve more future works.
The funds raised will be used as collateral for securing bank loans and investing in equipment and IT development, he said. CAZ’s core business includes engineering design service, machinery and equipment supply as well as engineering, procurement and construction (EPC) for the oil, gas and petrochemical industry.
To fulfil customer needs, the company’s services range from project owners to main contractors. Since CAZ services are sophisticated and safety measures restricted, the expertise is highly required, according to a Tuesday release from the company. The company’s business and services comprise four main categories – engineering, procurement and construction; structural mechanical piping and clectrical and instrument service; civil and building service; and fabrication and other services.
