PCE opens trading day at 14.04% above reservation

PCE opened trading on SET for the first day at 2.60 baht, up 0.32 baht from the IPO price of 2.28 baht, or up 14.04%. Mr. Atsadej Kongsiri, the 14th Director and Managing Director of the Stock Exchange of Thailand (SET), together with Mr. Prakit Prasitsuphaphol, Chief Executive Officer and President of Petch Srivichai Enterprise PCL, joined the opening ceremony of the first day of trading in the Stock Exchange of Thailand of Petch Srivichai Enterprise PCL, the leader in the integrated palm oil industry, today (September 12) in the Agriculture and Food Industry Group, Agriculture Business Category, with a market capitalization at the IPO price of 6,270 million baht, using the abbreviation 'PCE' for trading securities, opening trading at 2.60 baht, an increase of 0.32 baht from the IPO price of 2.28 baht, or an increase of 14.04%. PCE operates its business by holding shares in other companies (Holding Company) in the integrated palm oil industry business, divided into 1) Palm Oil Production and Distribution Business Group, Biodiesel Oil and Palm Olein for consumption, including the purchase and distribution of palm oil and related products to customers in Thailand and abroad, 2) Warehouse and Pier Service Business Group, 3) Truck Transport Service Business Group, and 4) Ship Transport Service Business Group. The IPO price of 2.28 baht represents a fundraising value of 1,710 million baht and the value of securities at the IPO price of 6,270 million baht, equivalent to a price-to-earnings ratio (PE ratio) of 18.94 times. The funds raised from the fundraising will be used to invest in crude palm oil extraction plants, machinery and equipment to expand production capacity, improve production efficiency, and invest in related businesses to further create added value for products and to be used as working capital for the PCE Group's operations. Source: Thai News Agency

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