Jenkongklai PCL Successfully Sells Out IPO Shares, Reflecting Investor Confidence in Strong Business Fundamentals
Date: 27 September 2023
Bangkok, Thailand – Jenkongklai Public Company Limited (JPARK) has garnered a highly positive response from investors nationwide, resulting in the complete sale of its initial public offering (IPO) of 110 million shares. This overwhelming demand for JPARK’s IPO reflects the confidence of investors in the company’s strong business fundamentals.
A financial advisor to JPARK, Mr. Somsak Sirichainaruemit, CEO of Asset Pro Management Co, Ltd (APM), expressed his satisfaction with the investor response. “We are pleased to announce that all 110 million IPO shares offered by JPARK have been subscribed to by investors. This significant interest emphasizes the trust placed by the investment community in JPARK’s expertise and potential for growth,” said Mr. Sirichainaruemit.
JPARK, a leader in the parking space management industry with over 20 years of experience, is set to commence trading on the Market for Alternative Investment on October 3, 2023. The company’s IPO price is set at 3.80 baht per share, a reflection of its robust business model and ability to generate consistent cash flow from its car park management and parking space services.
JPARK’s Diversified Business Portfolio and Expansion Plans
Mr. Santiphon Jenwattanapaisan, CEO of JPARK, detailed the company’s diversified business operations. JPARK is primarily engaged in three main sectors: Parking Service Business (PS), Parking Management Service Business (PMS), and Business Consulting and Installation of Parking Management Systems (CIPS).
Currently, JPARK oversees and manages over 28,000 parking spaces, including transportation hubs, shopping malls, hospitals, educational institutions, and airports, primarily in Bangkok and its surrounding areas. The company’s commitment to providing reliable and efficient parking solutions has positioned it as a trusted service provider in the industry.
With the successful IPO, JPARK now aims to expand its operations further. The company plans to invest in the construction of a new parking facility at Phranangklao Hospital. The project, consisting of 6 floors and a total area of 18,242 square meters, will accommodate 532 cars and 72 motorcycles. Commercial operations are anticipated to commence in 2024.
JPARK’s Financial Performance and Outlook
Despite the challenges posed by the COVID-19 pandemic, JPARK displayed resilience and adaptability throughout the years. In the fiscal years 2020-2022, the company reported a total income of 286.17 million baht, 243.61 million baht, and 455.09 million baht, respectively.
The net profit of JPARK during the same period stood at 6.51 million baht, a loss of 10.99 million baht, and a net profit of 55.05 million baht, respectively. The dip in profitability can primarily be attributed to the adverse impact of lockdown measures on the company’s parking service business. However, with the gradual easing of COVID-19 restrictions and the diversification of its revenue streams, JPARK anticipates a more favorable financial performance in the coming years.
Mr. Santiphon expressed his gratitude towards the investors for their support and trust in JPARK’s business fundamentals. “This successful IPO is a significant milestone for JPARK. We are grateful for the confidence shown by the investors, reflecting the hard work of our team and financial advisors. We look forward to the first day of trading and continuing to deliver value to our stakeholders,” said Mr. Santiphon.
With its well-established presence in the parking space management industry and a strategic expansion plan in place, JPARK is poised for continued growth and success in the coming years.
Jenkongklai PCL. Pleased with investor response, 110 million shares were offered for sale, all sold out Reflecting confidence in businesses with strong fundamentals Prepare to trade on the Alternative Investment Market (May) on October 3 with an IPO price of 3.80 baht .
Date: 27 September 2023 Mr. Somsak Sirichainaruemit CEO of Asset Pro Management Co, Ltd or APM, as a financial advisor to Jenkongklai Public Company Limited or JPARK, revealed that JPARK has received a good response from investors across the country who expressed interest in subscribing to the sold out JPARK IPO. in the total of 110 million shares offered.
This reflects investor confidence in the strong business fundamentals. The company is set to enter the first day of trading or First Day Trading on the Market for Alternative Investment (may) on October 3, 2023. JPARK has expertise in the parking space management business for more than 20 years and can offer services that fully meet the needs of all types of customers. The company hopes that it will still get a good response. and has received continued support from investors
Sompop Kirasunthonphong Mr. Managing Director of Finansia Syrus Securities Public Company Limited as the underwriter. and underwriter Jen Kongklai Public Company Limited or JPARK disclosed that the company is pleased that JPARK has received a good response from investors who subscribed for all 110 million IPO shares, representing a percentage of no less than 27.50 the number of ordinary shares issued
and all payments of the company After this offer of additional ordinary shares From the determination of the offer price of 3.80 baht per share, it is considered an appropriate price. consistent with strong fundamentals From the nature of the business that can generate continuous cash flow from car park management and parking space management services. Along with the ability to make excellent profits and has a gross profit margin of 22-25%, a net profit margin of 11-12%, and a strong financial position.
Mr revealed Santiphon Jenwattanapaisan, CEO of Jenkongklai Public Company Limited or JPARK, that the company is a service provider involved in the management of parking spaces, divided into 3 main businesses: 1. Parking Service Business (PS)
2. Parking Management Service Business: PMS
3. Business consulting and installs parking management systems (Consultative Parking and Business Installation System: CIPS) Currently, the company has over 28,000 parking spaces under supervision, including connection points and transit points with the system electric trains. CBD shopping malls, hospitals, educational institutions, and airports Most service areas are in Bangkok and surrounding areas.
After fundraising, JPARK plans to invest in the expansion of Phranangklao Hospital parking construction project, 6 floors, which can accommodate 532 cars and 72 motorcycles, with a usable area of 18,242 square meters, a commercial area of 2,049 meters square, which is expected Commercial operations will begin within 2024, including its use as working capital for business operations.
“This is another important step for JPARK. We would like to thank investors for their confidence in the fundamentals of the business. and a good response This is the result of hard work by JPARK and the financial advisers. Including distribution manager and guarantee of sales and all the co-distributors Makes us very ready to go into the first day of trading. And we expect to receive continuous feedback from investors,” said Mr Santiphon.
While the operating results of JPARK in 2020-2022, the company had a total income of 286.17 million baht, 243.61 million baht, and 455.09 million baht, respectively. and had a net profit of 6.51 million baht, a loss of 10.99 million baht and a net profit of 55.05 million baht, respectively During 2020 to mid-2022, the company’s profitability was lower than in normal times.
Because the company has been affected by Lockdown measures from the COVID-19 situation, leading to a significant reduction in income from the parking service business. However, towards the end of 2022, when the COVID-19 situation started to subside. In addition, the company has income from the business of contracting to manage car parks. and consulting business and installing more parking space management systems As a result, generally in 2022, the company will have income. and better ability to make a profit
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