Bangkok: ATLAS commenced its first trading day on the Stock Exchange of Thailand (SET) with a notable drop, opening at a price 15.33% lower than its initial public offering (IPO) price. The shares began trading at 2.54 baht, down from the IPO price of 3.00 baht, marking a decrease of 0.46 baht.
According to Thai News Agency, the opening ceremony for Atlas Energy Public Company Limited’s debut on the SET was attended by Mr. Asadej Kongsiri, Director and Managing Director of the SET, and Mr. Suwatchai Pitakwongsaporn, Managing Director of Atlas Energy Public Company Limited, along with other executives. ATLAS is listed in the Resources and Energy and Utilities sectors under the ticker symbol “ATLAS.” The company raised 1,255.26 million baht through the IPO, with a market capitalization at the IPO price of 4,255.26 million baht.
ATLAS, a flagship company of the PTG Group, has a diverse portfolio focused on the distribution of LPG gas across various sectors, including households, transportation, and industries. The company operates under the PTG Group’s ‘PT’ brand and offers management services for fuel distribution at service stations, along with advertising media services in taxis. In the transportation sector, ATLAS boasts a leading market share of 31%, driven by its initiatives like Taxi Ads, Taxi Transform, and Auto Transform, which promote the use of LPG as an energy source. The company manages over 240 service stations and operates more than 400 cooking gas outlets in the household sector. Additionally, ATLAS is distinguished as the sole manufacturer in Thailand producing seamless, rust-free, and consumer-safe aluminum tanks.
The funds raised will be instrumental for ATLAS to expand its investments and enhance its energy retail business. The company aims to develop its ecosystem and incorporate advanced technology to improve customer communication, aspiring to become a leader in innovative products and services within the energy sector.