NL Development pcl, a company offering building construction services, is scheduled to be listed on the Stock Exchange of Thailand on February 20 under the ticker symbol “NL”. The initial public offering (IPO) is anticipated to have a market capitalization of THB 1.30 billion (approximately USD 36.31 million).
According to SET Senior Executive Vice President Manpong Senanarong, NL will be listed and commence trading on SET in the Property & Construction industry group within the Construction Services sector. NL’s core operations involve providing comprehensive construction services for buildings and structures, encompassing surveying, design, and construction. As the primary contractor, the company is well-positioned to secure projects from both public and private sectors. Moreover, NL possesses specialized expertise in constructing buildings with unique structures and high standards, particularly in the hospital category.
Over the past three years, NL has derived a significant portion of its revenue from government clients, particularly in the hospital sector. To bolster its operations, the company established a subsidiary to manage labor activities, as well as a rebar cutting and bending factory for efficient rebar utilization, and a wooden furniture production factory to support interior decoration requirements for construction projects. As of September 30, 2023, NL has ten ongoing projects, representing an unrealized value of 2,107 million baht. Furthermore, NL’s dividend policy stipulates a minimum payout of 50 percent of net profit to shareholders.
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