Bangkok: FLE, the first stock on the mai market specializing in integrated water management systems, opened trading at 1.45 baht, up 0.22 baht or 17.89% from its IPO price of 1.23 baht.
According to Thai News Agency, Mr. Prapan Chareonprawat, Manager of the MAI Stock Exchange, and Mr. Panu Chokapirat, CEO of Frontline Engineering Public Company Limited (FLE), participated in the opening ceremony for the first day of trading under the Industrial Products sector. The stock achieved a market capitalization of 369 million baht at the IPO price.
Mr. Panu Chokapirat noted that FLE is the first stock on the Stock Exchange of Thailand focusing on integrated water management systems. The company has an order backlog of 352.55 million baht as of July 31, 2026, expected to generate revenue starting this year. The company plans to expand into the water pump rental business, invest in water projects, and manage water treatment plants under concession agreements with government agencies. Additionally, they see growth opportunities in digital infrastructure investments, driven by the rising demand for data centers due to the expansion of cloud computing and AI.
The funds raised from the IPO will be used to support business expansion, enhance operational capabilities, and serve as working capital, positioning the company to undertake new projects and seize business opportunities.