The share price of Mena Transport Public Company Limited (MENA) closed the morning session on its first trading day at ฿2.60/share, increased ฿1.40/share or 116% with a trading value of 5,068 million baht.
Finansia Syrus Securities (FSS) estimated MENA’s fair value in 2022 at Bt1.45 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.