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IPOInsight: DEXON, the most advanced inspection innovation attached to the Hawk’s wings

Dexon Technology Public Company Limited (DEXON) is preparing to offer an IPO of 123.18 million shares at a price of 4.50 baht per share, moving forward to be listed on the Market for Alternative Investments (May) on March 31, 2023.

DEXON is a provider of engineering inspections and technological innovation. to inspect the structure and production equipment in each industry group The petroleum, petrochemical, power generation renewable energy group industries And other industries to check the integrity of the structure, including the material, DEXON has a team of experienced experts and engineers. Providing services with modern equipment developed by the company which is certified by various standards from international agencies

Mrs. Mallika Kaekla, CEO of DEXON, revealed to “InfoQuest” that the company sees growth opportunities abroad. The first funding of around 120 million baht will be used to expand the business to the Netherlands (Europe) and the United States. Expansion of the pipe inspection market through the use of advanced technology (Advance Internal Inspection).

Although the United States and European economy shows a slowdown Including having to face a major financial crisis, but DEXON estimates that it will not affect the expansion of the market. because the customers who do business with them are not in the financial sector But it is an energy customer. which is the basic industry for living So, even if there is any crisis These industries still have to move forward.

“The direction we are going abroad It does not mean that we have abandoned the Asian market which we currently dominate. Add a team, expand the team and focus on areas we haven’t conquered yet. according to the information studied United States and European area Many pipes although there are players in the market But we still have room to gain market share easily. along with the new technology we have invented makes sure We will definitely hit the market in these two areas,” said Ms Mallika.

For the second funding, around 60 million baht will be used for research and development. to research technology AND create new tools to differentiate yourself from competitors. Including further development for DEXON to grow in the future

“There is one device that stands out. The Hawk Pipeline Crack Detection and Measurement System is the name of a device that provides a very detailed inspection. Only 1 millimeter is visible. We are developing jointly with companies that provide sponsors from the United States The project is now complete. Put it to work with customers in Canada. Which has been confirmed by customers that the test results are very accurate. It’s another invention of the R&D department,” the CEO said.

Mr. Wicha Tomana, Managing Director of Investment Banking Department, Phillip Securities (Thailand) as a financial advisor and distribution manager AND underwriting the sale of DEXON shares, said the price of DEXON shares at 4.50 baht / share comes from a survey of the needs of institutional investors (Book Building), with demand of funds at an adequate level. That will help maintain the stability of DEXON’s price after it enters the market as well, with a price of 4.50 per share, equal to the P / E Ratio of about 20 times, compared to full year performance of ’22 where DEXON has earnings per share on 22 satang.

“DEXON is a Thai company with global service potential. There is no listed company in Thailand that has a business model like DEXON at all. It may be similar, but DEXON is the leader in pipe inspection which we call Advance Internal Inspection or Smart Pig Technology because of personnel potential . In developing and manufacturing equipment used in the company’s own inspection, DEXON is considered a potential stock for growth or a Growth Stock,” said Mr Vicha.

*Who is DEXON? (min. 0.52 – 2.20 )

*DEXON and growth (min 2.21 – 4.00)

*DEXON and business benefits (min. 4.01 ? 6.44)

* DEXON and the plan after entering the market (6.45 minutes ? 11.12 minutes)

*DEXON from the FA’s point of view (min. 11.13 – 13.30 )

* https://youtu.be/P0GhEyct5Jo


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