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Date/Time
06 Jul 2021 09:53:00
Headline
SET News :SET welcomes ready-mix concrete transportation operator "MENA" on July 7
Symbol
SET
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SET
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                                                                       SET News 48/2021
                                                                    July 6, 2021

SET welcomes ready-mix concrete transportation operator "MENA" on July 7

Bangkok, July 6, 2021 - The Stock Exchange of Thailand (SET) will list Mena 
Transport pcl, a ready-mix concrete transportation operator, on July 7, under
the ticker symbol "MENA". The company has a market capitalization at its initial
 public offering (IPO) of THB 880.80 million (approx. USD 27.7 million).

SET Senior Executive Vice President Manpong Senanarong said that MENA would list
and start trading on SET in the Services industry group, Transportation &
Logistics sector.

MENA provides transportation of ready-mix concrete and industrial goods such as 
cement, fly ash, calcium, barium, etc., and consumer products. In addition, MENA
distributes construction materials, equipment and tools. The company has had
experience in cargo transportation business for more than 25 years, fully
equipped with trucks, trailers and mixer trucks catering to all key business
zones nationwide including the Eastern Economic Corridor (EEC). The company is
recognized by leading cement and concrete product manufacturers in Thailand.

MENA has a registered paid-up capital of THB 367 million, consisting of 550 
million existing common shares and 184 newly issued shares, with a par value of
THB 0.50 each. It offered newly issued shares to the general public via IPO
during June 29 - 30 and July 1 at THB 1.20 each, for a total of THB 220.80
million. Asia Plus Advisory Co., Ltd. is its financial advisor and Asia Plus
Securities Co., Ltd. is the lead underwriter.

MENA Chief Executive Officer Suwanna Kajonwuttidet said the company is 
determined to accelerate its growth and maintain its status as a leader in the
country's transportation of ready-mix concrete or mixer trucks and trailers. The
strength of more than 500 vehicles and over 500 delivery staff members brings
MENA to the fore among the business operators. The fundraising through IPO will
allow the company to expand its fleet of vehicles to support customers and
projects covering all regions of the country. Consequently, this will help
revive the economy, industrial sector, and the government's infrastructure
projects such as  the EEC project, the high-speed rail project to link three
airports, the first phase of the Thai-Sino high-speed train project from Bangkok
to Nakhon Ratchasima, and the double-track railway project on the
Denchai-Chiang Rai-Chiang Khong route, among others. Most importantly, MENA is
committed to standardized management, transparency and good corporate governance
 toward sustainable growth.

MENA's dividend policy is to pay no less than 40 percent of the net profit from 
the company's separate financial statement after corporate income tax and legal
reserves. However, the company may consider a different dividend policy based on
its operating performance, financial position, liquidity, financial
requirements for business management and expansion, and economic conditions.

MENA's major shareholder after the IPO is Kajonwuttidet family (62.9 percent).

For more information on MENA, please see the company's prospectus at the 
Securities and Exchange Commission's website at www.sec.or.th. For general
information, please visit www.menatransport.co.th, as well as www.set.or.th.
  
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