Bangkok: ETTH26, a solar power producer, opened trading on the Live Exchange (LiVEx) at 3.80 baht, marking a 1.33% increase from its initial public offering (IPO) price of 3.75 baht.
According to Thai News Agency, the debut was attended by Mr. Prapan Chareonprawat, Manager of the LiVEx Stock Exchange, and Mr. Rakthai Burapapark, Chief Executive Officer of Energy Thai Trading Hub Public Company Limited (ETTH26). The opening ceremony celebrated ETTH26's entry into the market with a slight rise in its stock price, which translated into a market capitalization of 407.64 million baht at the IPO price.
ETTH26 specializes in solar power generation systems, focusing on three primary business segments. Over half of the company's operations are dedicated to providing solar power generation services under Power Purchase Agreements (PPA). The other two segments involve providing solar panel installation services through the Engineering, Procurement, and Construction (EPC) model, and offering civil engineering services to support infrastructure development projects. The company serves a diverse customer base, including educational institutions, public and private hospitals, and medium-sized businesses.
The capital raised from the IPO will be strategically directed towards investing in PPA projects, repaying short-term debt, and serving as working capital. ETTH26 has been part of the LiVE Platform, an initiative designed to prepare and empower entrepreneurs for market readiness.