Mena Transport Public Company Limited (MENA) opened 33% above its IPO price to trade at ฿1.60/share on July 7, 2021.
The share price of MENA rose ฿0.40/share or 33% to ฿1.60/share at the opening bell on the first trading day in the Stock Exchange of Thailand (SET). The IPO price is ฿1.20/share.
MENA provides in-Land freight transportation by trailers, transportation of ready mix concrete by concrete mixer trucks, and sales of construction materials, equipment and tools.
The company recorded a net profit of 10.1 million baht in 1Q21, decreased 22.3% from a net profit of 13.0 million baht in 1Q20. The decrease in net profit was mainly due to the Covid-19 impact, causing the transportation related to construction business to slow down.