MENA Closes 107% Higher on Its First Trading Day with a ฿7.4Bn in Value
MENA closed 106.67% higher or an increase of ฿1.28/share to ฿2.48/share on its first trading day, with a trading value of 7.43 billion baht.
The share price of Mena Transport Public Company Limited (MENA) closed 106.67% higher or an increase of ฿1.28/share to ฿2.48/share on its first trading day, with a trading value of 7.43 billion baht.
MENA is involved in land freight transportation, which includes trailers, ready mix concrete transportation via concrete mixer trucks, and the selling of building materials, equipment, and tools.
Finansia Syrus Securities (FSS) estimated MENA’s fair value in 2022 at 1.45 baht per share, expecting 2021-22 earnings to return to an upward direction with a 21% CAGR.
FSS stated that MENA is a concrete mixer truck provider, which will directly benefit from the construction services sector that is recovering and expanding in both the property sector and the government sector that is focusing on infrastructure.
The investment will increase demand for mixer trucks, while the company is planning to expand its fleet to meet growing demand.
In addition, the trailers business is expecting to recover gradually, following the utilization rate from more project acquisitions.