According to a reporter, Atlas Energy Public Company Limited (ATLAS) submitted a filing to the Securities and Exchange Commission (SEC) to offer an initial public offering (IPO) with 418,420,000 stocks or 29.50% of paid-up shares after the offering. The company will register into the Stock Exchange of Thailand (SET) with Sage Capital Limited as its financial advisor.
The IPO will be offered to the committee, directors, and employees of PTG Energy Public Company Limited (SET: PTG) and its subsidiary with no more than 28,360,000 stocks, while 390,060,000 will be available to the public.
The goals of the funding are as follows:
- An investment for the expansion of LPG storage units and retail stores to support a business expansion within the household sector.
- An investment to increase the amount of LPG tanks to support a business expansion within the household sector.
- An investment to expand the number of new LPG stations to support a business expansion within the transportation sector.
- An investment into the PT Auto Transform project to increase the use of LPG cars.
- An investment to expand its customer base within the industrial sector.
- An investment to other LPG businesses.
ATLAS is an LPG dealer for the household, transportation, and industrial sectors with Olympus Oil Limited (OLP) as its subsidiary. ATLAS held a 100% share of OLP’s registered capital.
As of 30 September 2024, PTG held 100% of ATLAS’s share and would be reduced to 70.50% after the IPO. The company had a dividend payment policy of 30% of its net profit after corporate income tax.
